Sealed Air Co. (SEE) to Issue Quarterly Dividend of $0.20 on March 28th

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Friday, March 14th will be given 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 dividend yield of 2.42%. The ex-dividend date is Friday, March 14th.

Sealed Air has increased its dividend payment 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. 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 $33.05 on Friday. The firm’s 50-day simple moving average is $34.32 and its 200 day simple moving average is $34.94. The stock has a market cap of $4.81 billion, a P/E ratio of 12.15 and a beta of 1.34. 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 fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group decreased their price target 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. Truist Financial boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company decreased 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, Mizuho dropped their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.