Massachusetts Financial Services Co. MA Sells 3,951 Shares of Silgan Holdings Inc. (NYSE:SLGN)

Massachusetts Financial Services Co. MA lessened its position in shares of Silgan Holdings Inc. (NYSE:SLGN) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 827,722 shares of the industrial products company’s stock after selling 3,951 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Silgan were worth $43,083,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. OLD Mission Capital LLC bought a new stake in Silgan during the fourth quarter worth $1,736,000. Franklin Resources Inc. raised its holdings in shares of Silgan by 1,918.8% during the 4th quarter. Franklin Resources Inc. now owns 86,929 shares of the industrial products company’s stock worth $4,525,000 after buying an additional 82,623 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Silgan by 351.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,011 shares of the industrial products company’s stock worth $990,000 after buying an additional 14,804 shares during the last quarter. California Public Employees Retirement System boosted its stake in Silgan by 0.5% in the fourth quarter. California Public Employees Retirement System now owns 382,670 shares of the industrial products company’s stock valued at $19,918,000 after buying an additional 1,863 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Silgan by 6.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,787 shares of the industrial products company’s stock valued at $614,000 after acquiring an additional 680 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Insider Activity at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total value of $1,064,400.00. Following the transaction, the executive vice president now owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SLGN. Loop Capital raised their price target on shares of Silgan from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Raymond James raised their target price on shares of Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a report on Thursday, January 30th. Bank of America raised their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada upped their target price on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Silgan has an average rating of “Moderate Buy” and an average target price of $64.22.

Silgan Stock Down 3.4 %

Shares of SLGN opened at $47.88 on Friday. The stock’s 50-day moving average price is $52.42 and its two-hundred day moving average price is $52.74. Silgan Holdings Inc. has a 12 month low of $41.14 and a 12 month high of $58.14. The company has a market capitalization of $5.11 billion, a PE ratio of 18.56, a PEG ratio of 1.27 and a beta of 0.71. 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 (NYSE:SLGN) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. On average, analysts anticipate that Silgan Holdings Inc. will post 4.11 EPS for the current year.

Silgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19. Silgan’s dividend payout ratio (DPR) is currently 31.01%.

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.