Silgan Holdings Inc. (NYSE:SLGN) Shares Will Pay Quarterly Dividend of $0.21

Key Points

• Silgan declared a quarterly dividend of $0.21 per share, payable December 15 to shareholders of record December 1. The annualized dividend is $0.84, yielding about 2.0%.
• The company has increased its dividend for 22 consecutive years. Its 18.7% payout ratio indicates the dividend is currently well covered, with analysts forecasting a 20.5% payout ratio next year.
• Silgan reported quarterly earnings of $1.31 per share, beating analysts’ $1.25 estimate, while revenue of $2.04 billion fell short of expectations.

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.21 per share by the industrial products company on Tuesday, December 15th. This represents a $0.84 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 1st.

Silgan has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 22 years. Silgan has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 20.5%.

Silgan Trading Down 2.5%

NYSE:SLGN opened at $41.50 on Wednesday. Silgan has a 52 week low of $33.70 and a 52 week high of $49.55. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.37 and a current ratio of 0.52. The firm's fifty day moving average is $38.33 and its 200-day moving average is $41.37. The firm has a market cap of $4.39 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.48 and a beta of 0.64.

Silgan (NYSE:SLGN - Get Free Report) last announced its earnings results on Thursday, October 29th. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.10 billion. Silgan had a net margin of 3.90% and a return on equity of 16.73%. Silgan's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. Equities analysts expect that Silgan will post 3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Buckland Partners Management Co LLC purchased a new stake in Silgan in the 2nd quarter worth approximately $6,439,000. Bank of America Corp DE bought a new position in shares of Silgan during the 2nd quarter valued at about $101,368,000. Quantinno Capital Management LP grew its holdings in Silgan by 15.1% during the 1st quarter. Quantinno Capital Management LP now owns 179,341 shares of the industrial products company's stock valued at $6,958,000 after buying an additional 23,485 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Silgan in the second quarter valued at $1,291,000. Finally, Skylands Capital LLC increased its holdings in shares of Silgan by 97.6% in the 3rd quarter. Skylands Capital LLC now owns 81,500 shares of the industrial products company's stock worth $2,832,000 after buying an additional 40,250 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Silgan Company Profile

Silgan Holdings Inc NYSE: SLGN is a manufacturer of rigid packaging products used by consumer goods companies. The company produces metal containers, plastic containers and specialty closures for food, beverage, personal care, household, healthcare, industrial and other products.

Silgan's metal packaging business supplies cans and containers for food, pet food, paint, chemicals, aerosols and other applications. Its plastic packaging operations manufacture bottles, tubs and other containers, while its closures business produces metal and plastic caps, lids and dispensing systems for a range of consumer and industrial products.

Founded in 1987, Silgan serves customers primarily across North America and Europe through a network of manufacturing facilities.

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