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

Silgan Holdings Inc. (NYSE:SLGN) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders 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 yield of 1.61%. The ex-dividend date of this dividend is Monday, March 17th. This is a 5.3% increase 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. Research analysts expect Silgan to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.

Silgan Stock Performance

SLGN opened at $49.64 on Friday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.45 and a quick ratio of 0.28. Silgan has a 1-year low of $41.14 and a 1-year high of $58.14. The business has a 50 day moving average price of $52.91 and a two-hundred day moving average price of $52.79.

Silgan (NYSE:SLGN) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Silgan had a return on equity of 19.70% and a net margin of 4.72%. Research analysts predict that Silgan will post 4.11 EPS for the current fiscal year.

Insider Transactions at Silgan

In other 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 transaction, the chief executive officer now directly owns 227,332 shares of the company’s stock, valued at approximately $12,441,880.36. This represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 152,133 shares in the company, 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 company insiders.

Wall Street Analysts Forecast Growth

SLGN has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Silgan from $53.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Bank of America increased their price objective on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price objective on Silgan from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada increased their price objective on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their price objective on Silgan from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Silgan presently has an average rating of “Moderate Buy” and an average target price 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.