Sealed Air Co. (NYSE:SEE – Get Rating) COO Emile Z. Chammas acquired 1,000 shares of the stock in a transaction on Wednesday, August 31st. The stock was bought at an average cost of $54.08 per share, with a total value of $54,080.00. Following the completion of the transaction, the chief operating officer now owns 208,161 shares in the company, valued at $11,257,346.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Sealed Air Trading Down 1.2 %
Shares of Sealed Air stock opened at $52.86 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.72 and a debt-to-equity ratio of 18.30. Sealed Air Co. has a 12-month low of $52.67 and a 12-month high of $70.72. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 2.12 and a beta of 1.14. The firm’s 50 day simple moving average is $57.57 and its two-hundred day simple moving average is $62.24.
Sealed Air (NYSE:SEE – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Sealed Air’s revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that Sealed Air Co. will post 4.15 EPS for the current year.
Sealed Air Announces Dividend
Wall Street Analyst Weigh In
Several research firms have issued reports on SEE. Bank of America cut shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price objective for the company. in a research report on Thursday, July 7th. Credit Suisse Group cut shares of Sealed Air from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $80.00 to $64.00 in a research report on Wednesday, July 20th. Morgan Stanley lowered their price target on shares of Sealed Air from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. Royal Bank of Canada raised shares of Sealed Air from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $66.00 to $70.00 in a research report on Wednesday, August 3rd. Finally, Mizuho lowered their price target on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, August 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Sealed Air has a consensus rating of “Hold” and an average price target of $69.00.
Institutional Trading of Sealed Air
Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Sealed Air by 8.8% in the 1st quarter. BlackRock Inc. now owns 20,006,898 shares of the industrial products company’s stock valued at $1,339,661,000 after acquiring an additional 1,613,020 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sealed Air by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 16,464,222 shares of the industrial products company’s stock valued at $1,102,444,000 after acquiring an additional 148,634 shares during the last quarter. Kensico Capital Management Corp boosted its holdings in shares of Sealed Air by 33.8% in the 4th quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock valued at $282,912,000 after acquiring an additional 1,058,900 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Sealed Air by 13.0% in the 1st quarter. Bank of America Corp DE now owns 3,635,752 shares of the industrial products company’s stock valued at $243,450,000 after acquiring an additional 417,485 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Sealed Air by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,768,451 shares of the industrial products company’s stock valued at $186,294,000 after acquiring an additional 22,136 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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