ValuEngine cut shares of Sealed Air (NYSE:SEE) from a hold rating to a sell rating in a research note released on Wednesday.
SEE has been the subject of a number of other reports. Barclays dropped their target price on shares of Sealed Air from $51.00 to $50.00 and set an overweight rating for the company in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of Sealed Air from a buy rating to a hold rating in a research note on Thursday, May 31st. Finally, KeyCorp reaffirmed a hold rating on shares of Sealed Air in a research note on Thursday, August 2nd. 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 stock. Sealed Air currently has an average rating of Hold and a consensus target price of $49.80.
Shares of SEE stock opened at $40.13 on Wednesday. Sealed Air has a 12-month low of $38.49 and a 12-month high of $49.94. The stock has a market cap of $6.35 billion, a P/E ratio of 22.17, a PEG ratio of 1.71 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of -8.64.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. equities research analysts expect that Sealed Air will post 2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, September 6th. Sealed Air’s dividend payout ratio is presently 35.36%.
In other Sealed Air news, Director Jerry R. Whitaker purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was acquired at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the purchase, the director now directly owns 8,021 shares in the company, valued at approximately $319,316.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward L. Doheny II purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of $39.65 per share, with a total value of $198,250.00. Following the completion of the purchase, the insider now owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 6,600 shares of company stock valued at $262,654. 0.63% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SEE. State of Wisconsin Investment Board grew its holdings in Sealed Air by 2.0% during the second quarter. State of Wisconsin Investment Board now owns 152,963 shares of the industrial products company’s stock valued at $6,493,000 after purchasing an additional 2,948 shares during the period. Riverhead Capital Management LLC grew its holdings in Sealed Air by 146.1% during the second quarter. Riverhead Capital Management LLC now owns 30,125 shares of the industrial products company’s stock valued at $1,279,000 after purchasing an additional 17,884 shares during the period. LPL Financial LLC grew its holdings in Sealed Air by 71.8% during the first quarter. LPL Financial LLC now owns 10,508 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 4,391 shares during the period. First Republic Investment Management Inc. grew its holdings in Sealed Air by 11.2% during the second quarter. First Republic Investment Management Inc. now owns 52,646 shares of the industrial products company’s stock valued at $2,236,000 after purchasing an additional 5,300 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Sealed Air by 1.3% during the second quarter. Wells Fargo & Company MN now owns 6,432,847 shares of the industrial products company’s stock valued at $273,074,000 after purchasing an additional 85,011 shares during the period. 96.18% of the stock is owned by institutional investors and hedge funds.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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