Sealed Air Co. (NYSE:SEE) Announces $0.20 Quarterly Dividend

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.20 per share by the industrial products company on Friday, March 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th.

Sealed Air has increased its dividend by an average of 1.7% per year over the last three years. Sealed Air has a dividend payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sealed Air to earn $3.05 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 26.2%.

Sealed Air Trading Down 0.3 %

Shares of SEE stock opened at $30.32 on Wednesday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 11.15 and a beta of 1.32. Sealed Air has a 1 year low of $29.82 and a 1 year high of $41.14. The firm’s fifty day simple moving average is $33.76 and its 200 day simple moving average is $34.81. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts predict that Sealed Air will post 3.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America cut their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Citigroup lowered their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial raised their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.25.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sealed Air stock. Brighton Jones LLC bought a new position in shares of Sealed Air Co. (NYSE:SEE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,800 shares of the industrial products company’s stock, valued at approximately $737,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.