Sealed Air Corp (NYSE:SEE) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Shareholders of record on Friday, June 5th will be paid a dividend of 0.16 per share by the industrial products company on Friday, June 19th. This represents a $0.64 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, June 4th.
Sealed Air has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Sealed Air to earn $2.87 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 22.3%.
Shares of Sealed Air stock opened at $30.00 on Friday. Sealed Air has a 52 week low of $17.06 and a 52 week high of $45.86. The firm has a fifty day moving average of $28.51 and a two-hundred day moving average of $33.67. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 2.83 and a beta of 1.12.
SEE has been the subject of a number of recent analyst reports. Wells Fargo & Co restated a “hold” rating on shares of Sealed Air in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of Sealed Air from $41.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Morgan Stanley lowered their target price on Sealed Air from $40.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Cfra lowered their target price on Sealed Air from $36.00 to $33.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Finally, KeyCorp reiterated a “hold” rating on shares of Sealed Air in a report on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.89.
In other Sealed Air news, SVP Emile Z. Chammas acquired 7,500 shares of Sealed Air stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $29.85 per share, for a total transaction of $223,875.00. Following the purchase, the senior vice president now directly owns 202,261 shares in the company, valued at approximately $6,037,490.85. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward L. Doheny II acquired 10,000 shares of Sealed Air stock in a transaction dated Thursday, March 19th. The shares were acquired at an average price of $23.05 per share, with a total value of $230,500.00. Over the last 90 days, insiders have bought 34,000 shares of company stock valued at $947,070. Company insiders own 0.53% of the company’s stock.
About Sealed Air
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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