Sealed Air Corporation (SEE) Declares Quarterly Dividend of $0.16
Sealed Air Corporation (NYSE:SEE) announced a quarterly dividend on Thursday, October 5th, RTT News reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.16 per share by the industrial products company on Friday, December 15th. This represents a $0.64 annualized dividend and a dividend yield of 1.45%.
Sealed Air Corporation has raised its dividend by an average of 5.5% per year over the last three years. Sealed Air Corporation has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Sealed Air Corporation to earn $2.50 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 25.6%.
Shares of Sealed Air Corporation (SEE) traded up 0.20% during midday trading on Thursday, hitting $44.09. 1,929,536 shares of the stock traded hands. The firm has a 50-day moving average price of $43.71 and a 200-day moving average price of $44.22. Sealed Air Corporation has a 52 week low of $41.22 and a 52 week high of $50.62. The stock has a market capitalization of $8.38 billion, a P/E ratio of 22.79 and a beta of 1.17.
Sealed Air Corporation (NYSE:SEE) last released its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned $0.65 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Sealed Air Corporation will post $1.83 earnings per share for the current fiscal year.
SEE has been the topic of a number of research reports. Robert W. Baird reiterated a “buy” rating and set a $55.00 target price on shares of Sealed Air Corporation in a research report on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and set a $47.00 target price on shares of Sealed Air Corporation in a research report on Sunday, August 27th. Citigroup Inc. downgraded shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the company from $52.00 to $47.00 in a research report on Thursday, September 7th. BidaskClub upgraded shares of Sealed Air Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. set a $48.00 target price on shares of Sealed Air Corporation and gave the company a “buy” rating in a research report on Sunday, September 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.33.
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In other news, Director Lawrence R. Codey sold 3,500 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the sale, the director now owns 38,180 shares in the company, valued at approximately $1,638,303.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.05% of the company’s stock.
Sealed Air Corporation Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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