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

Sealed Air Co. (NYSE:SEE - Get Free Report) 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 2.48%. The ex-dividend date is Friday, June 13th.

Sealed Air has increased its dividend payment by an average of 1.7% per year over the last three years. Sealed Air has a dividend payout ratio of 24.2% meaning 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 Stock Down 0.7%

Shares of SEE stock traded down $0.24 during mid-day trading on Friday, reaching $32.20. 1,396,108 shares of the company were exchanged, compared to its average volume of 1,558,546. Sealed Air has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market capitalization of $4.74 billion, a P/E ratio of 11.84 and a beta of 1.35. The business's 50 day simple moving average is $28.79 and its 200 day simple moving average is $32.16.

Sealed Air (NYSE:SEE - Get Free Report) last released 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. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company earned $0.78 earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Sealed Air will post 3.05 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SEE shares. Mizuho reduced their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Raymond James reduced their price objective on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a research note on Monday, April 7th. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Activity

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, with a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SEE. Royal Bank of Canada grew its holdings in Sealed Air by 21.4% during the first quarter. Royal Bank of Canada now owns 118,808 shares of the industrial products company's stock worth $3,434,000 after acquiring an additional 20,925 shares during the period. Focus Partners Wealth grew its holdings in Sealed Air by 66.9% during the first quarter. Focus Partners Wealth now owns 41,184 shares of the industrial products company's stock worth $1,190,000 after acquiring an additional 16,515 shares during the period. Brighton Jones LLC acquired a new position in Sealed Air during the fourth quarter worth about $737,000. Empowered Funds LLC grew its holdings in Sealed Air by 4.1% during the first quarter. Empowered Funds LLC now owns 12,560 shares of the industrial products company's stock worth $363,000 after acquiring an additional 500 shares during the period. Finally, United Services Automobile Association acquired a new position in Sealed Air during the first quarter worth about $272,000. 94.40% of the stock is owned by institutional investors and hedge funds.

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.