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 is Friday, November 30th.
Silgan has increased 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% indicating that 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%.
NASDAQ:SLGN opened at $24.63 on Friday. Silgan has a 52-week low of $23.14 and a 52-week high of $31.05. The company has a current ratio of 0.47, a quick ratio of 0.28 and a debt-to-equity ratio of 2.59. The stock 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 data on Wednesday, October 24th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Silgan had a net margin of 7.59% and a return on equity of 26.91%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, research analysts expect that Silgan will post 2.05 earnings per share for the current year.
In other Silgan news, CFO Robert B. Lewis sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $23.86, for a total transaction of $238,600.00. Following the sale, the chief financial officer now directly owns 398,063 shares of the company’s stock, valued at $9,497,783.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony P. Andreacchi sold 1,843 shares of the company’s stock in a transaction dated 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. Insiders have sold 57,843 shares of company stock worth $1,434,327 over the last ninety days. Insiders own 30.32% of the company’s stock.
SLGN has been the topic of a number of analyst reports. BidaskClub raised shares of Silgan from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. ValuEngine raised shares of Silgan from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Zacks Investment Research cut shares of Silgan from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. KeyCorp reissued a “hold” rating on shares of Silgan in a research note on Wednesday, October 24th. Finally, Wells Fargo & Co lowered their target price on shares of Silgan from $30.00 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday, October 25th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.33.
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Silgan Company Profile
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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