Silgan Holdings Inc. (NASDAQ:SLGN) Plans $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 paid 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 dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.2 %

Shares of SLGN stock traded down $0.08 on Friday, reaching $42.68. 13,386 shares of the company’s stock were exchanged, compared to its average volume of 577,491. Silgan has a 52 week low of $37.10 and a 52 week high of $46.98. The company has a current ratio of 0.48, a quick ratio of 0.24 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $4.73 billion, a PE ratio of 12.79, a P/E/G ratio of 2.18 and a beta of 0.77. The company’s fifty day simple moving average is $42.11 and its 200 day simple moving average is $43.34.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SLGN shares. StockNews.com lowered Silgan from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Citigroup lifted their target price on Silgan from $45.00 to $50.00 in a research report on Friday, April 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.89.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position 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 acquiring an additional 77,304 shares in the last quarter. State Street Corp grew its stake in Silgan by 5.2% during the 1st quarter. State Street Corp now owns 2,327,760 shares of the industrial products company’s stock worth $107,612,000 after buying an additional 114,449 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Silgan by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,315,372 shares of the industrial products company’s stock worth $107,040,000 after buying an additional 16,717 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Silgan by 4.2% during 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 buying an additional 30,129 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

About Silgan

(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.

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Dividend History for Silgan (NASDAQ:SLGN)

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