Sealed Air Co. (NYSE:SEE – Get Rating) declared a quarterly dividend on Thursday, May 26th, RTT News reports. Investors of record on Friday, June 10th will be given a dividend of 0.20 per share by the industrial products company on Friday, June 24th. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%.
Sealed Air has raised its dividend by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 1 years. Sealed Air has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sealed Air to earn $4.60 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 17.4%.
Shares of NYSE:SEE opened at $62.80 on Friday. The company’s fifty day moving average is $65.70 and its two-hundred day moving average is $65.72. The company has a market cap of $9.17 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. Sealed Air has a 12-month low of $53.87 and a 12-month high of $70.72. The company has a quick ratio of 0.74, a current ratio of 1.31 and a debt-to-equity ratio of 19.38.
Several institutional investors and hedge funds have recently made changes to their positions in SEE. Horizon Investments LLC raised its position in Sealed Air by 37.5% in the 4th quarter. Horizon Investments LLC now owns 6,760 shares of the industrial products company’s stock valued at $456,000 after purchasing an additional 1,844 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Sealed Air by 93.2% in the first quarter. Raymond James Trust N.A. now owns 6,135 shares of the industrial products company’s stock valued at $411,000 after buying an additional 2,960 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Sealed Air during the 1st quarter worth about $310,000. Virtu Financial LLC bought a new stake in Sealed Air during the 1st quarter worth about $306,000. Finally, Toroso Investments LLC lifted its position in shares of Sealed Air by 13.6% during the first quarter. Toroso Investments LLC now owns 4,506 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 540 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on SEE shares. Mizuho boosted their price objective on shares of Sealed Air from $68.00 to $72.00 in a research report on Friday, February 18th. JPMorgan Chase & Co. downgraded Sealed Air from an “overweight” rating to a “neutral” rating and set a $71.00 price target on the stock. in a research report on Friday, February 25th. StockNews.com assumed coverage on Sealed Air in a research report on Thursday, March 31st. They set a “buy” rating for the company. Wells Fargo & Company lifted their price target on Sealed Air from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 22nd. Finally, Citigroup lowered their price objective on shares of Sealed Air from $81.00 to $80.00 in a research note on Friday, April 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $71.92.
Sealed Air Company Profile (Get Rating)
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
- Get a free copy of the StockNews.com research report on Sealed Air (SEE)
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