Sealed Air Corp (NYSE:SEE) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Investors of record on Friday, June 7th will be paid a dividend of 0.16 per share by the industrial products company on Friday, June 21st. This represents a $0.64 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, June 6th.
Sealed Air has increased its dividend payment by an average of 7.2% annually over the last three years. Sealed Air has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sealed Air to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 21.4%.
NYSE SEE traded down $0.42 during trading hours on Friday, hitting $41.68. The company’s stock had a trading volume of 748,581 shares, compared to its average volume of 1,578,064. Sealed Air has a 52 week low of $30.22 and a 52 week high of $47.13. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.73 and a beta of 1.13.
Several brokerages recently weighed in on SEE. Robert W. Baird raised their price target on shares of Sealed Air from $41.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, February 8th. Zacks Investment Research cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday, February 18th. Vertical Research lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Sealed Air to $43.00 and gave the company a “sector perform” rating in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.00.
In other Sealed Air news, Director Harry A. Lawton III acquired 1,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were acquired at an average price of $42.33 per share, for a total transaction of $42,330.00. Following the completion of the acquisition, the director now owns 2,225 shares in the company, valued at $94,184.25. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward L. Doheny II acquired 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $45.00 per share, for a total transaction of $225,000.00. Following the acquisition, the chief executive officer now owns 167,246 shares of the company’s stock, valued at approximately $7,526,070. The disclosure for this purchase can be found here. Corporate insiders own 0.53% of the company’s stock.
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Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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