Silgan Holdings Inc. Plans Quarterly Dividend of $0.19 (NYSE:SLGN)

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Stockholders of record on Tuesday, September 3rd will be given a dividend of 0.19 per share by the industrial products company on Tuesday, September 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Tuesday, September 3rd.

Silgan has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Silgan has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Silgan to earn $4.21 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.1%.

Silgan Stock Performance

Shares of SLGN stock traded down $0.33 on Wednesday, reaching $48.75. The stock had a trading volume of 714,480 shares, compared to its average volume of 592,712. The stock has a market cap of $5.21 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.72 and a beta of 0.67. Silgan has a 1 year low of $38.11 and a 1 year high of $52.84. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.62 and a current ratio of 0.53. The company has a 50 day simple moving average of $45.32 and a 200 day simple moving average of $45.64.

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, topping analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Equities research analysts expect that Silgan will post 3.66 EPS for the current year.

Analyst Ratings Changes

SLGN has been the topic of several analyst reports. Citigroup lifted their target price on Silgan from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “buy” rating and set a $59.00 target price (up from $56.00) on shares of Silgan in a research report on Thursday, August 1st. Wells Fargo & Company lifted their target price on Silgan from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on Silgan from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada lifted their target price on Silgan from $51.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Silgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Insider Buying and Selling at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the sale, the vice president now directly 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 is available through this hyperlink. In other news, VP B Frederik Prinzen sold 4,093 shares of Silgan stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $47.84, for a total value of $195,809.12. Following the sale, the vice president now directly owns 4,520 shares of the company’s stock, valued at $216,236.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction dated Monday, August 5th. The stock was 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 directly owns 11,495 shares in the company, valued at $563,714.80. The disclosure for this sale can be found here. Insiders have sold a total of 39,921 shares of company stock valued at $1,885,939 over the last ninety days. 1.39% of the stock is currently owned by company insiders.

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.