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

Massachusetts Financial Services Co. MA decreased its stake in shares of Silgan Holdings Inc. (NYSE:SLGN - Free Report) by 11.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 831,673 shares of the industrial products company's stock after selling 106,183 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.78% of Silgan worth $43,663,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SLGN. Price T Rowe Associates Inc. MD increased its holdings in shares of Silgan by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,416 shares of the industrial products company's stock worth $2,060,000 after purchasing an additional 2,386 shares during the period. Bayesian Capital Management LP acquired a new position in Silgan in the first quarter valued at about $476,000. Kennedy Capital Management LLC boosted its position in Silgan by 22.8% in the first quarter. Kennedy Capital Management LLC now owns 73,648 shares of the industrial products company's stock valued at $3,576,000 after buying an additional 13,692 shares in the last quarter. Janus Henderson Group PLC boosted its position in Silgan by 95.6% in the first quarter. Janus Henderson Group PLC now owns 1,224,502 shares of the industrial products company's stock valued at $59,462,000 after buying an additional 598,472 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Silgan in the first quarter valued at about $744,000. Institutional investors own 70.25% of the company's stock.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Silgan from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Silgan from $53.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Citigroup boosted their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Silgan from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada upped their target price on shares of Silgan from $55.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Silgan Stock Performance

NYSE:SLGN traded up $0.80 during mid-day trading on Monday, reaching $57.33. 271,541 shares of the company's stock were exchanged, compared to its average volume of 565,916. Silgan Holdings Inc. has a one year low of $40.88 and a one year high of $57.61. The firm has a market capitalization of $6.12 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.67. The business's fifty day simple moving average is $52.29 and its two-hundred day simple moving average is $48.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.75 and a current ratio of 1.09.

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

Silgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, December 2nd. Silgan's dividend payout ratio is 27.54%.

Silgan 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.