Silgan Holdings Inc. (NASDAQ:SLGN) to Issue $0.16 Quarterly Dividend

Silgan Holdings Inc. (NASDAQ:SLGNGet Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Stockholders of record on Thursday, September 1st will be given a dividend of 0.16 per share by the industrial products company on Thursday, September 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, August 31st.

Silgan has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Silgan to earn $4.23 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 15.1%.

Silgan Stock Down 0.2 %

SLGN stock opened at $42.68 on Friday. The stock has a market capitalization of $4.73 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. The company has a current ratio of 0.48, a quick ratio of 0.24 and a debt-to-equity ratio of 2.10. Silgan has a 12 month low of $37.10 and a 12 month high of $46.98. The firm has a 50-day moving average price of $42.07 and a 200-day moving average price of $43.34.

Silgan (NASDAQ:SLGNGet Rating) last posted its earnings results on Wednesday, July 27th. The industrial products company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Silgan had a net margin of 6.07% and a return on equity of 26.03%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, equities research analysts anticipate that Silgan will post 3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLGN shares. StockNews.com downgraded Silgan from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Citigroup upped their price objective on Silgan from $45.00 to $50.00 in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.89.

Institutional Trading of Silgan

Several large investors have recently modified their holdings of SLGN. Fuller & Thaler Asset Management Inc. grew its position in shares of Silgan by 69.0% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,068,170 shares of the industrial products company’s stock worth $49,381,000 after buying an additional 436,243 shares during the period. State Street Corp lifted its holdings in shares of Silgan by 5.2% in the 1st quarter. State Street Corp now owns 2,327,760 shares of the industrial products company’s stock worth $107,612,000 after purchasing an additional 114,449 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Silgan by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 8,657,331 shares of the industrial products company’s stock worth $400,228,000 after purchasing an additional 77,304 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Silgan by 1,492.1% in the 1st quarter. Eaton Vance Management now owns 45,661 shares of the industrial products company’s stock worth $2,110,000 after purchasing an additional 42,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Silgan by 4.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 744,678 shares of the industrial products company’s stock worth $34,427,000 after purchasing an additional 30,129 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Silgan Company Profile

(Get Rating)

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging for consumer goods products in North America, Europe, and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Metal Containers segment manufactures and sells steel and aluminum containers for food products, such as pet food, vegetables, soups, proteins, tomato based products, adult nutritional drinks, fruits, and other miscellaneous food products, as well as general line metal containers primarily for chemicals.

See Also

Dividend History for Silgan (NASDAQ:SLGN)

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