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

Sealed Air Co. (NYSE:SEE - Get Free Report) announced a quarterly dividend on Thursday, May 29th, RTT News reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.20 per share by the industrial products company on Friday, June 27th. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, June 13th.

Sealed Air has raised its dividend by an average of 1.7% annually over the last three years. Sealed Air has a dividend payout ratio of 24.2% 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 Stock Performance

Shares of SEE traded up $0.47 during trading hours on Tuesday, hitting $32.21. The stock had a trading volume of 955,577 shares, compared to its average volume of 1,553,086. 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 firm has a 50-day moving average price of $28.83 and a 200 day moving average price of $32.11. Sealed Air has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 11.84 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts anticipate that Sealed Air will post 3.05 EPS for the current year.

Insider Transactions at Sealed Air

In other news, Director Henry R. Keizer acquired 1,120 shares of Sealed Air stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, 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 this link. Company insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sealed Air by 94.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company's stock worth $45,000 after buying an additional 756 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Sealed Air during the first quarter worth about $201,000. United Services Automobile Association acquired a new position in Sealed Air during the first quarter worth about $272,000. Empowered Funds LLC raised its position 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 last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Sealed Air during the 4th quarter worth approximately $737,000. Institutional investors and hedge funds own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

SEE has been the subject of several recent analyst reports. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research note on Tuesday, March 4th. Raymond James dropped their price target on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 22nd. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Finally, UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research note on Monday, April 7th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.