Massachusetts Financial Services Co. MA Has $43.66 Million Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

Massachusetts Financial Services Co. MA cut its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 11.3% in the third quarter, Holdings Channel reports. The fund owned 831,673 shares of the industrial products company’s stock after selling 106,183 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Silgan were worth $43,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLGN. Blue Trust Inc. boosted its stake in Silgan by 256.6% in the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 426 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Silgan by 2,838.5% in the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock worth $50,000 after buying an additional 613 shares during the period. Headlands Technologies LLC acquired a new stake in Silgan during the 2nd quarter worth $70,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Silgan by 220.4% during the third quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 963 shares during the period. 70.25% of the stock is currently owned by institutional investors and hedge funds.

Silgan Stock Performance

NYSE:SLGN opened at $56.53 on Monday. The firm has a market capitalization of $6.04 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The stock’s 50-day simple moving average is $52.29 and its 200 day simple moving average is $48.93. Silgan Holdings Inc. has a twelve month low of $40.88 and a twelve month high of $56.78.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. On average, analysts anticipate that Silgan Holdings Inc. will post 3.6 EPS for the current fiscal year.

Silgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, December 2nd. Silgan’s dividend payout ratio is currently 27.54%.

Wall Street Analyst Weigh In

SLGN has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $59.00 price objective (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Silgan from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Silgan from an “underweight” rating to a “neutral” rating and raised their target price for the company from $46.00 to $53.00 in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price target on Silgan from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup increased their price objective on shares of Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.43.

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.