Sealed Air Co. (NYSE:SEE – Get Rating) COO Emile Z. Chammas acquired 1,000 shares of Sealed Air stock in a transaction that occurred on Wednesday, August 31st. The stock was acquired at an average price of $54.08 per share, with a total value of $54,080.00. Following the completion of the purchase, the chief operating officer now directly owns 208,161 shares in the company, valued at approximately $11,257,346.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sealed Air Trading Down 0.3 %
Shares of SEE stock traded down $0.18 during mid-day trading on Thursday, reaching $53.63. The stock had a trading volume of 12,720 shares, compared to its average volume of 927,703. The stock’s 50-day moving average price is $57.65 and its two-hundred day moving average price is $62.31. Sealed Air Co. has a 52-week low of $53.35 and a 52-week high of $70.72. The firm has a market capitalization of $7.79 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. 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 (NYSE:SEE – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. Sealed Air’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Sealed Air Co. will post 4.15 earnings per share for the current fiscal year.
Sealed Air Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date is Thursday, September 8th. Sealed Air’s payout ratio is currently 21.74%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SEE. Royal Bank of Canada upgraded shares of Sealed Air from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $66.00 to $70.00 in a research note on Wednesday, August 3rd. Wells Fargo & Company reduced their price objective on shares of Sealed Air from $71.00 to $62.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Mizuho cut their price target on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, August 3rd. Bank of America downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. raised shares of Sealed Air from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $62.00 to $58.00 in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Sealed Air presently has a consensus rating of “Hold” and an average target price of $69.00.
Institutional Investors Weigh In On Sealed Air
Several hedge funds have recently bought and sold shares of SEE. Ellevest Inc. lifted its stake in shares of Sealed Air by 269.0% in the first quarter. Ellevest Inc. now owns 369 shares of the industrial products company’s stock worth $25,000 after buying an additional 269 shares in the last quarter. Confluence Wealth Services Inc. bought a new position in shares of Sealed Air in the fourth quarter worth approximately $29,000. Parkside Financial Bank & Trust lifted its stake in shares of Sealed Air by 186.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 582 shares of the industrial products company’s stock worth $39,000 after buying an additional 379 shares in the last quarter. CX Institutional bought a new position in shares of Sealed Air in the second quarter worth approximately $39,000. Finally, Premier Fund Managers Ltd lifted its stake in shares of Sealed Air by 6.8% in the second quarter. Premier Fund Managers Ltd now owns 31,300 shares of the industrial products company’s stock worth $40,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.
About Sealed Air
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.