Sealed Air Corporation (NYSE:SEE)‘s stock had its “outperform” rating reiterated by stock analysts at Robert W. Baird in a note issued to investors on Tuesday, June 13th. They presently have a $55.00 target price on the industrial products company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 22.03% from the stock’s previous close.
SEE has been the subject of several other reports. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 target price on shares of Sealed Air Corporation in a research note on Tuesday, April 11th. TheStreet cut Sealed Air Corporation from a “b” rating to a “c+” rating in a research note on Tuesday, May 9th. Jefferies Group LLC lowered their target price on Sealed Air Corporation from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Wednesday, May 10th. Credit Suisse Group set a $50.00 target price on Sealed Air Corporation and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research upgraded Sealed Air Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.09.
Shares of Sealed Air Corporation (SEE) traded down 0.51% during midday trading on Tuesday, hitting $45.07. The stock had a trading volume of 2,332,874 shares. The firm has a 50-day moving average of $44.24 and a 200 day moving average of $45.79. The firm has a market cap of $8.83 billion, a PE ratio of 25.90 and a beta of 1.13. Sealed Air Corporation has a 12-month low of $41.74 and a 12-month high of $50.62.
Sealed Air Corporation (NYSE:SEE) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.03. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Sealed Air Corporation will post $1.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Wednesday, May 31st. Sealed Air Corporation’s dividend payout ratio is 36.99%.
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In related news, insider Jerome A. Peribere bought 6,960 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $42.97 per share, with a total value of $299,071.20. Following the completion of the transaction, the insider now owns 199,000 shares in the company, valued at $8,551,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William G. Stiehl sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $43.43, for a total value of $130,290.00. Following the sale, the chief accounting officer now owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
Large investors have recently modified their holdings of the stock. Bank of Nova Scotia bought a new stake in shares of Sealed Air Corporation during the first quarter valued at about $1,736,000. Point72 Asset Management L.P. bought a new stake in shares of Sealed Air Corporation during the first quarter valued at about $2,576,000. FNY Partners Fund LP bought a new stake in shares of Sealed Air Corporation during the first quarter valued at about $196,000. Janus Capital Management LLC boosted its stake in shares of Sealed Air Corporation by 9.0% in the first quarter. Janus Capital Management LLC now owns 10,071,664 shares of the industrial products company’s stock valued at $438,917,000 after buying an additional 834,754 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Sealed Air Corporation by 60.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,538 shares of the industrial products company’s stock valued at $329,000 after buying an additional 2,838 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.
Sealed Air Corporation Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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