Silgan Holdings Inc. (SLGN) Plans $0.10 Quarterly Dividend

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Silgan Holdings Inc. (NASDAQ:SLGN) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Stockholders of record on Monday, December 3rd will be given a dividend of 0.10 per share by the industrial products company on Monday, December 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, November 30th.

Silgan has raised its dividend by an average of 6.3% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Silgan has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Silgan to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.9%.

Silgan stock opened at $24.63 on Friday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.28 and a current ratio of 0.47. Silgan has a 12 month low of $23.14 and a 12 month high of $31.05. The firm has a market cap of $2.72 billion, a PE ratio of 14.93, a P/E/G ratio of 1.16 and a beta of 0.68.

Silgan (NASDAQ:SLGN) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the company posted $0.66 EPS. Silgan’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts expect that Silgan will post 2.05 earnings per share for the current fiscal year.

In other Silgan news, CFO Robert B. Lewis sold 25,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $24.83, for a total transaction of $620,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Anthony P. Andreacchi sold 1,843 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $27.15, for a total transaction of $50,037.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,843 shares of company stock valued at $1,434,327. 30.32% of the stock is owned by company insiders.

Several research firms have recently commented on SLGN. BidaskClub upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a report on Thursday, September 13th. ValuEngine upgraded shares of Silgan from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Silgan from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a research note on Wednesday, October 24th. Finally, BMO Capital Markets reduced their price objective on shares of Silgan from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.33.

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About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products worldwide. It operates through three segments: Metal Containers, Closures, and Plastic Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as soups, vegetables, fruit, meat, tomato based products, seafood, coffee, adult nutritional drinks, pet food, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

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Dividend History for Silgan (NASDAQ:SLGN)

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