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

Silgan Holdings Inc. (NYSE:SLGN) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Monday, June 3rd will be given 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 dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, June 3rd.

Silgan has increased its dividend by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Silgan has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.4 %

Silgan stock traded up $0.19 during mid-day trading on Thursday, hitting $46.65. The stock had a trading volume of 228,954 shares, compared to its average volume of 584,525. The stock has a 50-day simple moving average of $46.25 and a two-hundred day simple moving average of $44.29. The company has a current ratio of 0.49, a quick ratio of 0.29 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $4.98 billion, a PE ratio of 16.39, a P/E/G ratio of 2.53 and a beta of 0.69. Silgan has a 12 month low of $38.11 and a 12 month high of $49.72.

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

Insider Activity

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

Wall Street Analyst Weigh In

SLGN has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Silgan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company cut their target price on Silgan from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on Silgan from $39.00 to $46.00 and gave the stock an “underweight” rating in a research note on Thursday, February 1st. Citigroup upped their price objective on Silgan from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Raymond James upped their price objective on Silgan from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.