Silgan Holdings Inc. (NYSE:SLGN) to Issue Quarterly Dividend of $0.20

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Monday, June 2nd will be paid a dividend of 0.20 per share by the industrial products company on Monday, June 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, June 2nd.

Silgan has increased its dividend payment by an average of 10.7% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Silgan has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Silgan to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.

Silgan Stock Down 0.6 %

SLGN stock opened at $53.84 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. The firm’s 50-day simple moving average is $50.43 and its 200 day simple moving average is $52.51. The stock has a market cap of $5.76 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.74. Silgan has a fifty-two week low of $41.14 and a fifty-two week high of $58.14.

Silgan (NYSE:SLGN) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.48 billion. Silgan had a return on equity of 19.70% and a net margin of 4.72%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. As a group, sell-side analysts predict that Silgan will post 4.11 EPS for the current year.

Insider Transactions at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $54.73, for a total transaction of $6,841,250.00. Following the transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $53.22, for a total transaction of $1,064,400.00. Following the completion of the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at approximately $8,096,518.26. The trade was a 11.62 % decrease in their position. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on SLGN shares. Royal Bank of Canada boosted their price target on shares of Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James upgraded Silgan from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $65.00 to $60.00 in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upgraded Silgan from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Thursday, May 1st. Wells Fargo & Company boosted their price target on shares of Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Truist Financial reduced their price objective on shares of Silgan from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Silgan currently has a consensus rating of “Buy” and a consensus target price of $62.78.

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.