Sealed Air Co. (NYSE:SEE) to Issue Quarterly Dividend of $0.20

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors 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 annualized dividend and a yield of 2.41%.

Sealed Air has raised its dividend by an average of 1.7% per year over the last three years. Sealed Air has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities 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 1.4 %

NYSE:SEE traded down $0.46 during trading hours on Wednesday, hitting $33.19. 1,484,329 shares of the company were exchanged, compared to its average volume of 1,129,389. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 12.20 and a beta of 1.34. 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 has a one year low of $30.87 and a one year high of $41.14. The company has a fifty day simple moving average of $34.44 and a 200 day simple moving average of $34.96.

Analysts Set New Price Targets

SEE has been the subject of several analyst reports. Bank of America lowered their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup decreased their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group reduced their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company reduced their target price on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley reduced their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and an average price target of $40.00.

About Sealed Air

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.