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

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Stockholders of record on Tuesday, September 3rd will be paid 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 1.45%. 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 increased its dividend annually for the last 21 consecutive years. Silgan has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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

SLGN stock opened at $52.27 on Monday. The firm has a 50 day simple moving average of $47.08 and a 200 day simple moving average of $46.37. Silgan has a 52 week low of $38.11 and a 52 week high of $52.84. The stock has a market cap of $5.58 billion, a P/E ratio of 18.34, a P/E/G ratio of 1.52 and a beta of 0.67. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

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

Insider Transactions at Silgan

In other Silgan news, VP Stacey J. Mcgrath sold 1,600 shares of Silgan stock in a transaction on Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at $563,714.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.39% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLGN has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Silgan from $51.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Citigroup raised their price target on shares of Silgan from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Truist Financial reaffirmed a “buy” rating and issued a $59.00 price target (up previously from $56.00) on shares of Silgan in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised Silgan from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $53.00 in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.00.

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.