Silgan Approves Buyback

The stock market is down again today as the financial world continues to be impacted by the war in Ukraine. One example is palladium, a metal which you probably don’t think much about. It’s used in catalytic converters, and Russia is a major producer. Palladium is more valuable than gold and it’s nearly doubled in the past three months.

Energy stocks are doing the best today while many financial stocks are lagging. JP Morgan made a new 52-week low.

On Friday, Silgan Holdings (SLGN) said that is has approved a buyback for $300 million worth of its stock through the end of 2026.

“This authorization replaces our prior similar authorization which had expired at the end of 2021 and will allow us to repurchase common stock from time to time through December 31, 2026,” said Adam Greenlee, President and CEO. “As in the past, we maintain a disciplined approach to capital deployment with a priority towards growth investments for the Company,” concluded Mr. Greenlee.

This week, we’re going to get an earnings report from Miller Industries (MLR). That will be the final report of the Q4 earnings season. Later this month, we’ll get earnings reports from SAIC (SAIC) and FactSet (FDS). SAIC’s quarter ended in January while FactSet’s ended in February. FactSet will be on March 24 and SAIC’s will be on March 28.

After that, everything gets back to normal and the Q1 earnings reporting season will start in mid-April.

Posted by on March 7th, 2022 at 9:59 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.