Silgan Holdings Inc. Plans Quarterly Dividend of $0.20 (NYSE:SLGN)

Key Points

• Silgan Holdings Inc. has declared a quarterly dividend of $0.20 per share, which will be paid on September 16th to shareholders of record by September 2nd, indicating a yield of 1.7% based on an annualized dividend of $0.80.
• The company's earnings report revealed a missed EPS estimate of $1.01 for the last quarter against a consensus of $1.03, although revenue increased by 11.4% year-on-year to $1.54 billion.
• Equities analysts have a mixed outlook on SLGN, with two hold ratings, seven buy ratings, and a consensus target price of $62.44, reflecting optimism about the stock's performance amid recent price adjustments.

Silgan Holdings Inc. (NYSE:SLGN - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.20 per share by the industrial products company on Tuesday, September 16th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Silgan has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Silgan to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.

Silgan Stock Performance

Shares of Silgan stock traded down $0.22 during trading on Friday, reaching $46.40. The company's stock had a trading volume of 763,072 shares, compared to its average volume of 1,243,419. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.28 and a current ratio of 0.48. The business's fifty day moving average price is $53.59 and its 200-day moving average price is $52.74. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.17 and a beta of 0.69. Silgan has a one year low of $44.37 and a one year high of $58.14.

Silgan (NYSE:SLGN - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.02). The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Silgan had a return on equity of 19.98% and a net margin of 4.90%. The firm's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. As a group, equities research analysts predict that Silgan will post 4.11 earnings per share for the current year.

Insider Activity at Silgan

In related news, EVP Robert B. Lewis sold 10,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.92, for a total value of $559,200.00. Following the completion of the sale, the executive vice president owned 153,378 shares in the company, valued at $8,576,897.76. This represents a 6.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Silgan

A number of large investors have recently made changes to their positions in SLGN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Silgan in the 1st quarter valued at about $51,000. M&T Bank Corp lifted its stake in Silgan by 6.9% in the 1st quarter. M&T Bank Corp now owns 18,135 shares of the industrial products company's stock valued at $927,000 after acquiring an additional 1,165 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Silgan by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,903 shares of the industrial products company's stock valued at $353,000 after acquiring an additional 815 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Silgan by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 49,933 shares of the industrial products company's stock worth $2,553,000 after acquiring an additional 695 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Silgan during the 1st quarter worth approximately $42,000. Institutional investors own 70.25% of the company's stock.

Silgan Company Profile

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.