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

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Monday, June 3rd will be paid a dividend of 0.19 per share by the industrial products company on Monday, June 17th. This represents a $0.76 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, June 3rd.

Silgan has raised its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 21 years. Silgan has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Silgan to earn $4.04 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 18.8%.

Silgan Stock Up 0.6 %

SLGN traded up $0.28 on Thursday, reaching $46.74. The company’s stock had a trading volume of 190,885 shares, compared to its average volume of 584,056. The company has a quick ratio of 0.29, a current ratio of 0.49 and a debt-to-equity ratio of 1.35. Silgan has a fifty-two week low of $38.11 and a fifty-two week high of $49.72. The stock has a 50 day moving average of $46.25 and a two-hundred day moving average of $44.29. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.53 and a beta of 0.69.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Silgan had a net margin of 5.25% and a return on equity of 19.26%. Silgan’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. As a group, analysts forecast that Silgan will post 3.66 EPS for the current fiscal year.

Insider Activity

In other news, VP B Frederik Prinzen sold 4,684 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $43.89, for a total value of $205,580.76. Following the completion of the transaction, the vice president now directly owns 8,613 shares of the company’s stock, valued at $378,024.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

SLGN has been the topic of a number of recent research reports. Royal Bank of Canada lifted their target price on shares of Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Raymond James increased their target price on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on Silgan from $39.00 to $46.00 and gave the company an “underweight” rating in a report on Thursday, February 1st. Citigroup upped their price target on shares of Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.00.

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.