Silgan Holdings Inc. (SLGN) Announces $0.09 Quarterly Dividend
Silgan Holdings Inc. (NASDAQ:SLGN) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.09 per share by the industrial products company on Friday, December 15th. This represents a $0.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, November 30th.
Silgan Holdings has raised its dividend by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 13 years. Silgan Holdings has a payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Silgan Holdings to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 19.1%.
Shares of Silgan Holdings (SLGN) opened at $29.41 on Tuesday. The stock has a market capitalization of $3,216.80, a P/E ratio of 18.69, a PEG ratio of 1.78 and a beta of 0.52. Silgan Holdings has a twelve month low of $24.36 and a twelve month high of $32.50. The company has a current ratio of 0.44, a quick ratio of 0.25 and a debt-to-equity ratio of 4.50.
Silgan Holdings (NASDAQ:SLGN) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.03). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Silgan Holdings had a return on equity of 32.87% and a net margin of 3.77%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. equities research analysts predict that Silgan Holdings will post 1.64 earnings per share for the current fiscal year.
In other Silgan Holdings news, insider Thomas James Snyder sold 10,506 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $30.78, for a total value of $323,374.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Anthony P. Andreacchi sold 2,192 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $30.18, for a total value of $66,154.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,698 shares of company stock worth $597,429. Corporate insiders own 33.10% of the company’s stock.
Several analysts have recently issued reports on SLGN shares. BMO Capital Markets reaffirmed a “buy” rating and set a $34.00 price objective on shares of Silgan Holdings in a report on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of Silgan Holdings in a report on Thursday, October 12th. ValuEngine cut Silgan Holdings from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded Silgan Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Robert W. Baird reissued a “hold” rating and set a $32.00 target price on shares of Silgan Holdings in a research report on Friday, October 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.57.
About Silgan Holdings
Silgan Holdings Inc is a holding company. The Company is a manufacturer of rigid packaging for consumer goods products. The Company operates in three business segments: metal containers, closures and plastic containers. Its metal container segment is engaged in the manufacture and sale of steel and aluminum containers for human and pet food and general line products.
Receive News & Ratings for Silgan Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silgan Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.