MassMutual Private Wealth & Trust FSB Trims Stock Holdings in Silgan Holdings Inc. (NYSE:SLGN)

MassMutual Private Wealth & Trust FSB lowered its stake in shares of Silgan Holdings Inc. (NYSE:SLGN) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,278 shares of the industrial products company’s stock after selling 3,070 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Silgan were worth $535,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Venturi Wealth Management LLC boosted its holdings in Silgan by 220.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,400 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 963 shares during the period. GAMMA Investing LLC grew its position in Silgan by 51.8% during the third quarter. GAMMA Investing LLC now owns 1,777 shares of the industrial products company’s stock worth $93,000 after buying an additional 606 shares in the last quarter. KBC Group NV increased its stake in Silgan by 27.7% in the 3rd quarter. KBC Group NV now owns 2,277 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 494 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Silgan in the 3rd quarter valued at about $154,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Silgan by 13,482.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,124 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 3,101 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of Silgan from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America lifted their price objective on shares of Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada increased their target price on Silgan from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Silgan presently has a consensus rating of “Moderate Buy” and an average price target of $59.75.

Silgan Stock Up 0.7 %

Shares of NYSE:SLGN opened at $53.00 on Wednesday. The stock has a market capitalization of $5.66 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.71. The stock’s 50-day moving average price is $53.79 and its 200-day moving average price is $51.40. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. Silgan Holdings Inc. has a 12-month low of $41.14 and a 12-month high of $58.14.

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

Silgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.19 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.76 annualized dividend and a yield of 1.43%. Silgan’s payout ratio is currently 27.54%.

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.