Sealed Air Corp (NYSE:SEE) Announces $0.16 Quarterly Dividend

Sealed Air Corp (NYSE:SEE) declared a quarterly dividend on Thursday, October 3rd, RTT News reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.16 per share by the industrial products company on Friday, December 20th. This represents a $0.64 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, December 5th.

Shares of Sealed Air stock opened at $37.35 on Tuesday. The company’s 50-day moving average price is $39.73 and its 200-day moving average price is $41.67. Sealed Air has a 12-month low of $32.33 and a 12-month high of $47.13. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.37 and a beta of 1.01.

Sealed Air (NYSE:SEE) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Sealed Air had a net margin of 7.55% and a negative return on equity of 135.60%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. As a group, equities research analysts expect that Sealed Air will post 2.78 EPS for the current year.

In related news, CFO James M. Sullivan acquired 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was purchased at an average price of $38.75 per share, for a total transaction of $193,750.00. Following the completion of the transaction, the chief financial officer now owns 17,028 shares of the company’s stock, valued at approximately $659,835. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Several analysts have weighed in on SEE shares. Robert W. Baird reaffirmed a “buy” rating and issued a $50.00 price target on shares of Sealed Air in a report on Monday, November 18th. Citigroup dropped their target price on shares of Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. ValuEngine raised shares of Sealed Air from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 19th. KeyCorp raised Sealed Air from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, November 6th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Sealed Air has an average rating of “Hold” and an average price target of $43.29.

Sealed Air Company Profile

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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Dividend History for Sealed Air (NYSE:SEE)

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