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

Massachusetts Financial Services Co. MA decreased its position in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 820,710 shares of the industrial products company's stock after selling 355,461 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.75% of Silgan worth $37,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Silgan during the 4th quarter valued at about $30,000. Quent Capital LLC grew its position in Silgan by 94.9% in the 4th quarter. Quent Capital LLC now owns 1,037 shares of the industrial products company's stock worth $47,000 after purchasing an additional 505 shares during the period. Fifth Third Bancorp raised its stake in Silgan by 92.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,120 shares of the industrial products company's stock valued at $48,000 after buying an additional 538 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Silgan during the 3rd quarter valued at $70,000. Finally, Blue Trust Inc. boosted its stake in shares of Silgan by 4,440.4% in the 4th quarter. Blue Trust Inc. now owns 2,134 shares of the industrial products company's stock worth $91,000 after buying an additional 2,087 shares during the last quarter. Institutional investors own 70.25% of the company's stock.

Silgan Price Performance

Shares of SLGN traded down $0.15 during trading hours on Friday, reaching $47.22. 245,218 shares of the stock traded hands, compared to its average volume of 613,438. The company has a market cap of $5.04 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69. The company has a current ratio of 1.04, a quick ratio of 0.62 and a debt-to-equity ratio of 1.33. The company's 50-day moving average price is $46.77 and its two-hundred day moving average price is $44.66. Silgan Holdings Inc. has a 52-week low of $38.11 and a 52-week high of $49.72.

Silgan (NYSE:SLGN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.37 billion. Silgan had a return on equity of 19.26% and a net margin of 5.25%. The business's revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. On average, analysts anticipate that Silgan Holdings Inc. will post 3.66 earnings per share for the current year.

Silgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. Silgan's dividend payout ratio (DPR) is presently 26.67%.

Insider Buying and Selling

In other news, VP B Frederik Prinzen sold 4,684 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the transaction, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Silgan news, EVP Robert B. Lewis sold 30,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.08, for a total transaction of $1,412,400.00. Following the completion of the transaction, the executive vice president now owns 172,133 shares in the company, valued at $8,104,021.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP B Frederik Prinzen sold 4,684 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $43.89, for a total transaction of $205,580.76. Following the completion of the sale, the vice president now owns 8,613 shares in the company, valued at $378,024.57. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,335 shares of company stock worth $3,009,806. 1.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLGN has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Silgan from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their price objective on shares of Silgan from $39.00 to $46.00 and gave the stock an "underweight" rating in a report on Thursday, February 1st. Raymond James upped their target price on shares of Silgan from $52.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Citigroup boosted their price objective on shares of Silgan from $47.00 to $51.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company decreased their target price on Silgan from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Silgan presently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Silgan Company 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.