Sealed Air Corporation (SEE) Plans Quarterly Dividend of $0.16
Sealed Air Corporation (NYSE:SEE) declared a quarterly dividend on Friday, July 7th, RTT News reports. Shareholders of record on Friday, September 1st will be given a dividend of 0.16 per share by the industrial products company on Friday, September 15th. This represents a $0.64 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, August 30th.
Sealed Air Corporation has increased its dividend payment by an average of 5.5% per year over the last three years. Sealed Air Corporation has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Research 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%.
Sealed Air Corporation (NYSE:SEE) traded up 0.53% during trading on Friday, reaching $43.49. 3,213,750 shares of the company’s stock traded hands. Sealed Air Corporation has a 12-month low of $41.74 and a 12-month high of $50.62. The company has a market cap of $8.52 billion, a PE ratio of 24.99 and a beta of 1.16. The company has a 50 day moving average price of $45.15 and a 200-day moving average price of $45.37.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.03. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.58 billion. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. Sealed Air Corporation’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. On average, equities research analysts forecast that Sealed Air Corporation will post $1.79 EPS for the current fiscal year.
A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 target price on shares of Sealed Air Corporation in a research report on Thursday, July 20th. Zacks Investment Research downgraded shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $44.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.91.
In related news, insider Jerome A. Peribere acquired 6,960 shares of Sealed Air Corporation stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average price of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the purchase, the insider now directly owns 199,000 shares of the company’s stock, valued at $8,551,030. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $43.43, for a total transaction of $130,290.00. Following the completion of the sale, the chief accounting officer now owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.
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About Sealed Air Corporation
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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