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

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Monday, March 17th will be paid 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 yield of 1.47%. The ex-dividend date is Monday, March 17th. This is a positive change from Silgan's previous quarterly dividend of $0.19.

Silgan has increased its dividend by an average of 10.7% per year over the last three years and has increased its dividend every year for the last 22 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 Trading Up 1.3 %

NYSE SLGN traded up $0.70 on Friday, reaching $54.28. The company had a trading volume of 612,666 shares, compared to its average volume of 669,373. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.27 and a beta of 0.71. The stock's 50 day moving average is $53.13 and its 200-day moving average is $52.78. 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 52 week low of $41.14 and a 52 week high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.03. Silgan had a net margin of 4.72% and a return on equity of 19.70%. Equities analysts predict that Silgan will post 4.11 earnings per share for the current year.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Silgan from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Silgan from $53.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Robert W. Baird upped their price target on shares of Silgan from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Bank of America raised their price target on shares of Silgan from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Truist Financial reissued a "buy" rating and issued a $70.00 price objective (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Silgan currently has an average rating of "Moderate Buy" and an average price target of $64.22.

Insider Buying and Selling at Silgan

In other Silgan news, CEO Adam J. Greenlee sold 125,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $54.73, for a total value of $6,841,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,332 shares in the company, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Lewis sold 20,000 shares of the firm's stock in a transaction dated 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 $8,096,518.26. This trade represents 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 currently owned by corporate insiders.

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.