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

Sealed Air Co. (NYSE:SEE) announced a quarterly dividend on Thursday, May 29th, RTT News reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.20 per share by the industrial products company on Friday, June 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.47%.

Sealed Air has increased its dividend by an average of 1.7% annually over the last three years. Sealed Air has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE SEE opened at $32.43 on Friday. The company has a market capitalization of $4.77 billion, a PE ratio of 11.92 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air has a twelve month low of $22.78 and a twelve month high of $41.14. The firm has a fifty day simple moving average of $28.73 and a 200 day simple moving average of $32.21.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. On average, sell-side analysts forecast that Sealed Air will post 3.05 EPS for the current year.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sealed Air by 94.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company’s stock valued at $45,000 after buying an additional 756 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Sealed Air during the 1st quarter worth $201,000. United Services Automobile Association bought a new stake in shares of Sealed Air in the 1st quarter worth $272,000. Empowered Funds LLC raised its holdings in shares of Sealed Air by 4.1% in the first quarter. Empowered Funds LLC now owns 12,560 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 500 shares during the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Sealed Air during the fourth quarter valued at about $737,000. Institutional investors own 94.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group set a $36.00 target price on Sealed Air in a report on Tuesday, March 4th. Wells Fargo & Company lifted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Wall Street Zen raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. UBS Group upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, April 7th. Finally, Mizuho dropped their price objective on shares of Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

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.