Massachusetts Financial Services Co. MA Lowers Stake in Silgan Holdings Inc. (NYSE:SLGN)

Massachusetts Financial Services Co. MA lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808,155 shares of the industrial products company's stock after selling 19,567 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.76% of Silgan worth $41,313,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hohimer Wealth Management LLC increased its position in shares of Silgan by 4.8% during the first quarter. Hohimer Wealth Management LLC now owns 8,411 shares of the industrial products company's stock worth $430,000 after acquiring an additional 388 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Silgan by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock valued at $1,160,000 after acquiring an additional 200 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Silgan by 27.3% in the first quarter. New York State Common Retirement Fund now owns 146,698 shares of the industrial products company's stock valued at $7,499,000 after acquiring an additional 31,447 shares in the last quarter. Robeco Schweiz AG raised its holdings in shares of Silgan by 35.4% in the first quarter. Robeco Schweiz AG now owns 217,187 shares of the industrial products company's stock valued at $11,103,000 after acquiring an additional 56,739 shares in the last quarter. Finally, State of Michigan Retirement System lifted its holdings in Silgan by 1.0% during the first quarter. State of Michigan Retirement System now owns 19,400 shares of the industrial products company's stock worth $992,000 after buying an additional 200 shares during the period. 70.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total value of $128,530.90. Following the transaction, the vice president owned 1,380 shares of the company's stock, valued at approximately $74,589. The trade was a 63.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $559,200.00. Following the completion of the transaction, the executive vice president owned 153,378 shares of the company's stock, valued at $8,576,897.76. The trade was a 6.12% decrease in their position. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SLGN shares. Truist Financial set a $67.00 price target on shares of Silgan and gave the company a "buy" rating in a report on Friday, July 11th. Citigroup upped their price target on shares of Silgan from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their price objective on Silgan from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America restated a "neutral" rating and issued a $59.00 price objective (up from $57.00) on shares of Silgan in a research note on Wednesday, July 9th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Silgan in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.78.

Silgan Price Performance

NYSE SLGN traded down $0.23 on Monday, hitting $54.97. The company had a trading volume of 522,214 shares, compared to its average volume of 669,568. The company has a market capitalization of $5.88 billion, a PE ratio of 20.43, a PEG ratio of 1.29 and a beta of 0.75. Silgan Holdings Inc. has a 12-month low of $44.37 and a 12-month high of $58.14. The company's fifty day moving average price is $54.88 and its 200-day moving average price is $52.86. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $0.69 EPS. The business's revenue was up 11.4% compared to the same quarter last year. As a group, analysts predict that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Monday, June 2nd. Silgan's dividend payout ratio is currently 29.74%.

Silgan Profile

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.