Silgan Holdings Inc. (NYSE:SLGN) Position Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 approximately 0.76% of Silgan worth $41,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hohimer Wealth Management LLC increased its holdings in Silgan by 4.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 8,411 shares of the industrial products company's stock valued at $430,000 after purchasing an additional 388 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Silgan by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the industrial products company's stock valued at $1,160,000 after purchasing an additional 200 shares during the period. New York State Common Retirement Fund increased its position 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 during the last quarter. Robeco Schweiz AG grew its holdings in Silgan by 35.4% during the first quarter. Robeco Schweiz AG now owns 217,187 shares of the industrial products company's stock worth $11,103,000 after purchasing an additional 56,739 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of 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 acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 70.25% of the company's stock.

Silgan Trading Up 1.1%

Shares of Silgan stock opened at $55.36 on Friday. The stock has a market capitalization of $5.92 billion, a PE ratio of 20.58, a P/E/G ratio of 1.28 and a beta of 0.75. Silgan Holdings Inc. has a 1-year low of $44.37 and a 1-year high of $58.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.14 and a quick ratio of 0.67. The company's fifty day simple moving average is $54.85 and its 200-day simple moving average is $52.82.

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 for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.48 billion. Silgan had a net margin of 4.82% and a return on equity of 20.00%. The company's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, equities analysts anticipate that Silgan Holdings Inc. will post 4.11 earnings per share for the current year.

Silgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. Silgan's payout ratio is 29.74%.

Insider Activity

In other Silgan news, EVP Robert B. Lewis sold 10,000 shares of Silgan stock in a transaction on Monday, May 19th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP B Frederik Prinzen sold 2,378 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $54.05, for a total transaction of $128,530.90. Following the completion of the sale, the vice president owned 1,380 shares in the company, valued at approximately $74,589. This trade represents a 63.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SLGN shares. Raymond James Financial reissued a "strong-buy" rating on shares of Silgan in a research report on Tuesday. Bank of America reiterated a "neutral" rating and set a $59.00 price target (up previously from $57.00) on shares of Silgan in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upgraded shares of Silgan from a "neutral" rating to an "overweight" rating and set a $57.00 target price on the stock in a research note on Thursday, May 1st. Citigroup increased their price objective on shares of Silgan from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Truist Financial set a $67.00 target price on shares of Silgan and gave the stock a "buy" rating in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.89.

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.

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