Sealed Air Corp (NYSE:SEE) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Investors of record on Friday, March 2nd will be paid a dividend of 0.16 per share by the industrial products company on Friday, March 16th. This represents a $0.64 annualized dividend and a yield of 1.51%.
Sealed Air has increased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Sealed Air has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Sealed Air to earn $2.80 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 22.9%.
Shares of Sealed Air (NYSE SEE) traded up $0.79 during trading on Wednesday, reaching $42.51. The company had a trading volume of 3,715,805 shares, compared to its average volume of 2,761,570. Sealed Air has a 1-year low of $40.76 and a 1-year high of $49.94. The company has a market capitalization of $7,530.00, a P/E ratio of 127.24, a P/E/G ratio of 1.62 and a beta of 1.12. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.35 and a quick ratio of 0.99.
Several equities research analysts recently issued reports on the company. Vertical Research downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BMO Capital Markets reiterated a “hold” rating and set a $50.00 price target on shares of Sealed Air in a report on Thursday, January 25th. SunTrust Banks downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Barclays raised Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $46.00 to $53.00 in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.31.
In other news, CFO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $48.98, for a total transaction of $146,940.00. Following the transaction, the chief financial officer now owns 34,797 shares of the company’s stock, valued at approximately $1,704,357.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Emile Z. Chammas sold 6,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $45.24, for a total value of $271,440.00. Following the transaction, the senior vice president now directly owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Sealed Air 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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