Silgan Holdings Inc. (NASDAQ:SLGN) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Friday, September 1st will be paid a dividend of 0.09 per share by the industrial products company on Friday, September 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, August 30th.

Silgan Holdings has raised its dividend by an average of 6.7% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Silgan Holdings has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Silgan Holdings to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 18.8%.

Shares of Silgan Holdings (NASDAQ:SLGN) opened at 29.40 on Tuesday. Silgan Holdings has a 12 month low of $23.58 and a 12 month high of $32.50. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 23.35 and a beta of 0.54. The stock’s 50 day moving average price is $30.92 and its 200 day moving average price is $47.24.

Silgan Holdings (NASDAQ:SLGN) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Silgan Holdings had a return on equity of 31.19% and a net margin of 3.83%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Equities research analysts predict that Silgan Holdings will post $1.66 earnings per share for the current fiscal year.

A number of research firms have recently commented on SLGN. Goldman Sachs Group, Inc. (The) lowered Silgan Holdings from a “neutral” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Thursday, July 13th. BMO Capital Markets reiterated a “buy” rating and issued a $34.00 price objective on shares of Silgan Holdings in a research note on Sunday, July 9th. Robert W. Baird lowered Silgan Holdings from an “outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, July 19th. Zacks Investment Research lowered Silgan Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.36.

In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of Silgan Holdings stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $30.78, for a total transaction of $323,374.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert B. Lewis sold 7,000 shares of Silgan Holdings stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $29.70, for a total value of $207,900.00. The disclosure for this sale can be found here. 33.10% of the stock is currently owned by insiders.

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About Silgan Holdings

Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.

Dividend History for Silgan Holdings (NASDAQ:SLGN)

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