Sealed Air Corp (NYSE:SEE) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 7,292,300 shares, a drop of 14.3% from the July 31st total of 8,512,600 shares. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 5.8 days. Currently, 4.8% of the shares of the company are short sold.
Several research firms have commented on SEE. ValuEngine cut shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Bank of America cut shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 target price on the stock. in a research report on Friday, June 21st. Wells Fargo & Co lifted their target price on shares of Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 6th. Finally, KeyCorp reissued a “sell” rating and set a $39.00 target price on shares of Sealed Air in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.69.
Several large investors have recently bought and sold shares of SEE. Dimensional Fund Advisors LP raised its holdings in shares of Sealed Air by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,521 shares of the industrial products company’s stock worth $37,364,000 after purchasing an additional 82,856 shares during the period. Geode Capital Management LLC grew its stake in Sealed Air by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 2,113,877 shares of the industrial products company’s stock valued at $73,522,000 after buying an additional 136,235 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Sealed Air by 2.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 169,888 shares of the industrial products company’s stock valued at $7,827,000 after buying an additional 4,569 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Sealed Air by 2.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 14,829 shares of the industrial products company’s stock valued at $683,000 after buying an additional 422 shares in the last quarter. Finally, First Mercantile Trust Co. grew its stake in Sealed Air by 16.6% in the 1st quarter. First Mercantile Trust Co. now owns 8,481 shares of the industrial products company’s stock valued at $391,000 after buying an additional 1,207 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.
Shares of NYSE:SEE traded up $1.09 during mid-day trading on Friday, reaching $42.40. The company had a trading volume of 1,306,700 shares, compared to its average volume of 1,453,571. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.50 and a beta of 1.08. The company’s 50-day moving average price is $42.19 and its 200-day moving average price is $43.67. Sealed Air has a one year low of $30.22 and a one year high of $47.13.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Sealed Air had a net margin of 7.84% and a negative return on equity of 121.14%. Sealed Air’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities analysts expect that Sealed Air will post 2.78 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.51%. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.
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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