Silgan Holdings Inc. (NYSE:SLGN) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV cut its position in Silgan Holdings Inc. (NYSE:SLGN) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,011 shares of the industrial products company’s stock after selling 1,513 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Silgan were worth $593,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Silgan during the fourth quarter worth $299,000. Allspring Global Investments Holdings LLC increased its stake in shares of Silgan by 3.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,323,963 shares of the industrial products company’s stock valued at $105,159,000 after purchasing an additional 66,837 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Silgan by 1.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 120,123 shares of the industrial products company’s stock worth $5,436,000 after purchasing an additional 1,500 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Silgan in the fourth quarter valued at approximately $1,027,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Silgan by 76.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 64,830 shares of the industrial products company’s stock valued at $2,934,000 after buying an additional 28,130 shares in the last quarter. 70.25% of the stock is currently owned by hedge funds and other institutional investors.

Silgan Trading Up 1.4 %

Shares of NYSE:SLGN traded up $0.68 during midday trading on Tuesday, reaching $49.08. 707,816 shares of the company’s stock were exchanged, compared to its average volume of 590,741. The firm’s 50 day simple moving average is $45.27 and its two-hundred day simple moving average is $45.60. Silgan Holdings Inc. has a fifty-two week low of $38.11 and a fifty-two week high of $52.84. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.53 and a quick ratio of 0.62. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.72 and a beta of 0.67.

Silgan (NYSE:SLGN) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a net margin of 5.24% and a return on equity of 19.22%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. As a group, sell-side analysts forecast that Silgan Holdings Inc. will post 3.66 EPS for the current fiscal year.

Insider Activity

In related news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total value of $78,464.00. Following the completion of the sale, the vice president now owns 11,495 shares in the company, valued at $563,714.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Stacey J. Mcgrath sold 1,600 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now owns 11,495 shares of the company’s stock, valued at $563,714.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP B Frederik Prinzen sold 4,093 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total transaction of $195,809.12. Following the transaction, the vice president now owns 4,520 shares in the company, valued at $216,236.80. The disclosure for this sale can be found here. In the last three months, insiders sold 61,251 shares of company stock valued at $2,882,690. Insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLGN shares. 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. JPMorgan Chase & Co. upgraded 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 report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup lifted their target price 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. Finally, StockNews.com upgraded shares of Silgan from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Silgan has an average rating of “Moderate Buy” and an average price target of $57.00.

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.