Sealed Air Co. (NYSE:SEE) Declares $0.20 Quarterly Dividend

Sealed Air Co. (NYSE:SEE) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.20 per share by the industrial products company on Friday, March 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%.

Sealed Air has raised its dividend payment by an average of 1.7% annually over the last three years. Sealed Air has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sealed Air to earn $3.05 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 26.2%.

Sealed Air Stock Down 1.4 %

Shares of NYSE SEE opened at $33.19 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a 50-day moving average price of $34.38 and a 200 day moving average price of $34.95. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 12.20 and a beta of 1.34.

Wall Street Analysts Forecast Growth

SEE has been the topic of several research analyst reports. Citigroup decreased their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America decreased their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial raised their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley dropped their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

About Sealed Air

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, 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, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.