Silgan Holdings Inc. (NYSE:SLGN – Get Free Report) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.21 per share by the industrial products company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 1st.
Silgan has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 22 consecutive 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 $4.07 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 20.6%.
Silgan Stock Performance
SLGN stock traded down $0.28 during trading on Wednesday, reaching $39.03. 230,059 shares of the company’s stock were exchanged, compared to its average volume of 898,518. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 1.58. Silgan has a 1-year low of $36.15 and a 1-year high of $57.04. The company’s fifty day moving average price is $40.88 and its 200-day moving average price is $41.71. The firm has a market cap of $4.12 billion, a PE ratio of 14.67, a P/E/G ratio of 2.27 and a beta of 0.74.
Institutional Investors Weigh In On Silgan
Institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Silgan by 2,525.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 735 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 707 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Silgan during the third quarter worth $33,000. EverSource Wealth Advisors LLC raised its position in shares of Silgan by 627.2% during the second quarter. EverSource Wealth Advisors LLC now owns 669 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 577 shares during the period. Danske Bank A S raised its position in shares of Silgan by 233.3% during the fourth quarter. Danske Bank A S now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 700 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Silgan by 37.4% during the fourth quarter. Fifth Third Bancorp now owns 1,084 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 295 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.
About Silgan
Silgan Holdings Inc (NYSE: SLGN) is a leading supplier of rigid packaging solutions for consumer goods manufacturers. The company’s core business activities center on the design, production and distribution of metal and plastic containers, closures and dispense systems. Silgan serves a broad array of end markets, including food and beverage, home and personal care, health care and industrial products, providing both standard and custom packaging formats.
Founded in 1987 and headquartered in Stamford, Connecticut, Silgan has grown organically and through strategic acquisitions to establish a global manufacturing footprint.
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