Silgan Holdings Inc. (NYSE:SLGN) Declares Dividend Increase – $0.20 Per Share

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders 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 dividend yield of 1.46%. The ex-dividend date is Monday, March 17th. This is an increase from Silgan’s previous quarterly dividend of $0.19.

Silgan has raised its dividend by an average of 10.7% per year over the last three years and has raised its dividend every year for the last 21 years. Silgan has a payout ratio of 17.0% indicating that 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 $0.76 annual dividend with an expected future payout ratio of 17.0%.

Silgan Stock Down 0.9 %

NYSE:SLGN traded down $0.47 during mid-day trading on Wednesday, hitting $54.65. The company had a trading volume of 719,619 shares, compared to its average volume of 672,671. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. Silgan has a 1 year low of $41.14 and a 1 year high of $58.14. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.27 and a beta of 0.71. The business has a fifty day simple moving average of $53.00 and a 200-day simple moving average of $52.67.

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

Insider Buying and Selling

In related news, EVP Robert B. Lewis sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $53.22, for a total value of $1,064,400.00. Following the sale, the executive vice president now owns 152,133 shares of the company’s stock, valued at $8,096,518.26. The trade was a 11.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chief executive officer now owns 227,332 shares in the company, valued at $12,441,880.36. This trade represents a 35.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada raised their target price on Silgan from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Truist Financial reiterated a “buy” rating and set a $70.00 price objective (up previously from $69.00) on shares of Silgan in a research note on Thursday, January 30th. Raymond James increased their price target on Silgan from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Bank of America upped their price target on Silgan from $60.00 to $61.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Robert W. Baird lifted their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.