Nuveen Asset Management LLC Sells 56,965 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Nuveen Asset Management LLC decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 14.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 350,377 shares of the industrial products company's stock after selling 56,965 shares during the period. Nuveen Asset Management LLC owned about 0.33% of Silgan worth $18,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLGN. Barclays PLC grew its holdings in shares of Silgan by 23.6% during the 3rd quarter. Barclays PLC now owns 57,327 shares of the industrial products company's stock worth $3,010,000 after acquiring an additional 10,936 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Silgan during the 4th quarter worth approximately $1,142,000. Janney Montgomery Scott LLC purchased a new position in shares of Silgan during the 4th quarter worth approximately $2,563,000. KBC Group NV grew its holdings in shares of Silgan by 52.5% during the 4th quarter. KBC Group NV now owns 3,473 shares of the industrial products company's stock worth $181,000 after acquiring an additional 1,196 shares during the period. Finally, Ausbil Investment Management Ltd grew its holdings in shares of Silgan by 93.9% during the 4th quarter. Ausbil Investment Management Ltd now owns 12,579 shares of the industrial products company's stock worth $642,000 after acquiring an additional 6,091 shares during the period. Hedge funds and other institutional investors own 70.25% of the company's stock.

Analyst Ratings Changes

SLGN has been the topic of a number of research analyst reports. Loop Capital upped their target price on Silgan from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Truist Financial cut their price target on Silgan from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 price target on the stock in a research note on Thursday, May 1st. Wells Fargo & Company upped their price target on Silgan from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, Robert W. Baird upped their price target on Silgan from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $63.11.

Silgan Stock Up 0.2%

SLGN traded up $0.10 during trading on Thursday, hitting $54.90. 56,118 shares of the company's stock traded hands, compared to its average volume of 753,097. The company's 50 day simple moving average is $51.68 and its two-hundred day simple moving average is $52.80. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.27 and a beta of 0.74.

Silgan (NYSE:SLGN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the business posted $0.69 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current fiscal year.

Silgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.80 annualized dividend and a yield of 1.46%. Silgan's dividend payout ratio is 29.74%.

Insider Buying and Selling at Silgan

In other news, EVP Robert B. Lewis sold 10,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.92, for a total transaction of $559,200.00. Following the transaction, the executive vice president now directly owns 153,378 shares of the company's stock, valued at $8,576,897.76. This represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president now directly owns 1,380 shares in the company, valued at $74,589. The trade was a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.13% of the company's stock.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.