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

Sealed Air Co. (NYSE:SEE) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Friday, March 14th will be paid 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 yield of 2.41%.

Sealed Air has raised its dividend by an average of 1.7% per year over the last three years. Sealed Air has a payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE:SEE traded down $0.46 during trading hours on Wednesday, reaching $33.19. 1,484,329 shares of the company were exchanged, compared to its average volume of 1,129,389. The company has a market capitalization of $4.83 billion, a P/E ratio of 12.20 and a beta of 1.34. Sealed Air has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The business has a 50 day moving average of $34.44 and a 200 day moving average of $34.96.

Analyst Upgrades and Downgrades

SEE has been the topic of a number of analyst reports. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley reduced their price target on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Monday, January 13th. UBS Group reduced their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Mizuho reduced their target price on Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.