Silgan Holdings Inc. (SLGN) To Go Ex-Dividend on March 17th

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 given a dividend of 0.20 per share by the industrial products company on Monday, March 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, March 17th. This is a boost 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 raised its dividend every year for the last 21 years. Silgan has a dividend payout ratio of 17.0% 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 $0.76 annual dividend with an expected future payout ratio of 17.0%.

Silgan Stock Performance

SLGN stock opened at $54.65 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 1.24. The firm has a market cap of $5.84 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.27 and a beta of 0.71. Silgan has a 12-month low of $41.14 and a 12-month high of $58.14. The stock’s 50 day simple moving average is $53.05 and its 200 day simple moving average is $52.68.

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

Insider Activity

In related news, EVP Robert B. Lewis sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 152,133 shares of the company’s stock, valued at $8,096,518.26. This trade represents a 11.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam J. Greenlee sold 125,000 shares of the firm’s stock in a transaction dated 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 $12,441,880.36. This represents a 35.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

SLGN has been the topic of several analyst reports. Bank of America increased their target price on Silgan from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Raymond James increased their target price on Silgan from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $70.00 target price (up from $69.00) on shares of Silgan in a research report on Thursday, January 30th. Wells Fargo & Company increased their target price on Silgan from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their target price on Silgan from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Silgan currently has a consensus rating of “Moderate Buy” and a consensus price target 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.