Sealed Air Corporation Declares Quarterly Dividend of $0.20 (NYSE:SEE)

Sealed Air Corporation (NYSE:SEE - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Friday, September 12th will be paid a dividend of 0.20 per share by the industrial products company on Friday, September 26th. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, September 12th.

Sealed Air has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities 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 0.6%

NYSE SEE traded down $0.19 during trading on Friday, hitting $31.20. The stock had a trading volume of 1,478,498 shares, compared to its average volume of 1,547,914. The company has a market capitalization of $4.59 billion, a PE ratio of 15.45, a P/E/G ratio of 2.87 and a beta of 1.35. The company's 50-day moving average price is $31.84 and its two-hundred day moving average price is $31.26. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26. Sealed Air has a 12 month low of $22.78 and a 12 month high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The business's revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Sealed Air will post 3.05 EPS for the current year.

Hedge Funds Weigh In On Sealed Air

A number of hedge funds have recently made changes to their positions in SEE. Brighton Jones LLC bought a new stake in Sealed Air in the fourth quarter worth approximately $737,000. Royal Bank of Canada increased its holdings in Sealed Air by 21.4% in the first quarter. Royal Bank of Canada now owns 118,808 shares of the industrial products company's stock worth $3,434,000 after purchasing an additional 20,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sealed Air by 94.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company's stock worth $45,000 after purchasing an additional 756 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Sealed Air in the first quarter worth approximately $201,000. Finally, United Services Automobile Association bought a new stake in Sealed Air in the first quarter worth approximately $272,000. 94.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on SEE shares. Truist Financial upped their price objective on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Mizuho upped their price objective on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a report on Tuesday. Citigroup increased their target price on Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, UBS Group increased their target price on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.27.

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.