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

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Monday, March 17th will be given a dividend of 0.20 per share by the industrial products company on Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, March 17th. This is a boost from Silgan’s previous quarterly dividend of $0.19.

Silgan has increased its dividend payment by an average of 10.7% per year over the last three years and has raised its dividend every year for the last 21 years. Silgan has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Silgan to earn $4.47 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 17.0%.

Silgan Trading Down 0.9 %

NYSE:SLGN opened at $54.65 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. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The stock has a fifty day simple moving average of $53.05 and a 200 day simple moving average of $52.68.

Silgan (NYSE:SLGN) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Sell-side analysts forecast that Silgan will post 4.11 earnings per share for the current year.

Insider Activity at Silgan

In related news, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $54.73, for a total value 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. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the completion of the transaction, the executive vice president now directly owns 152,133 shares in the company, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLGN. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird increased their price objective on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Silgan from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and set a $70.00 price target (up from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their price target on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.22.

About Silgan

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.