10 Best Mid-Cap Dividend Aristocrats To Buy

7. Silgan Holdings Inc. (NYSE:SLGN)

Number of Hedge Fund Holders: 25

Silgan Holdings Inc. (NYSE:SLGN) is a Connecticut-based manufacturing company that specializes in packaging for consumer goods. The company recently completed the acquisition of Weener Plastics, welcoming 4,000 new members to the Silgan team. This acquisition enhances the scope and scale of its leading global dispensing business. Earlier this year, the company finalized an agreement to acquire Weener Plastics Holdings, a German packaging company previously majority-owned by U.K. investment manager 3i Group, for an enterprise value of €838 million, approximately $908 million. Since the start of 2024, the stock has surged by 20%.

Silgan Holdings Inc. (NYSE:SLGN) reported mixed earnings in the third quarter of 2024. The company posted revenue of $1.75 billion, which fell by 3.22% from the same period last year. The revenue also missed analysts’ estimates by $83.4 million. That said, the company’s global dispensing business achieved another quarter of double-digit growth in dispensing products, solidifying its position as the preferred partner for the world’s most renowned brands, supported by its innovative solutions and superior service model. Meanwhile, the Metal Containers segment reached a significant milestone, recording high single-digit growth in pet food and renewing its long-standing relationship with its largest Metal Containers customer through an extended long-term contract.

In addition, Silgan Holdings Inc. (NYSE:SLGN) has a strong balance sheet. The company ended the quarter with $370 million available in cash and cash equivalents, up from $307 million in the same quarter last year. It started paying dividends in 2004 and has raised its payouts every year since then, which makes SLGN one of the best dividend stocks in the mid-cap space. Currently, it offers a quarterly dividend of $0.19 per share and has a dividend yield of 1.40%, as of December 16.

According to Insider Monkey’s database of Q3 2024, 25 hedge funds held stakes in Silgan Holdings Inc. (NYSE:SLGN), up from 23 in the preceding quarter. These stakes have a consolidated value of more than $121.4 million.