Sealed Air Corp. (SEE) Trading Down 3.8%
Sealed Air Corp. (NYSE:SEE)’s share price fell 3.8% on Thursday . The company traded as low as $47.18 and last traded at $47.26, with a volume of 2,261,516 shares changing hands. The stock had previously closed at $49.12.
A number of brokerages have recently weighed in on SEE. BMO Capital Markets reiterated a “hold” rating on shares of Sealed Air Corp. in a report on Sunday, July 17th. Zacks Investment Research upgraded Sealed Air Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 15th. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $56.00 in a report on Friday, July 15th. Jefferies Group upped their target price on Sealed Air Corp. from $45.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Finally, SunTrust Banks Inc. began coverage on Sealed Air Corp. in a report on Tuesday, July 12th. They issued a “buy” rating and a $54.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Sealed Air Corp. currently has an average rating of “Buy” and a consensus target price of $54.40.
The company has a market capitalization of $9.33 billion and a PE ratio of 29.28. The stock has a 50 day moving average price of $47.27 and a 200 day moving average price of $46.23.
Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.60 EPS. Sealed Air Corp.’s quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, August 31st.
Other institutional investors have added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in Sealed Air Corp. during the fourth quarter valued at $1,022,000. Atlantic Trust Group LLC boosted its position in Sealed Air Corp. by 9.7% in the fourth quarter. Atlantic Trust Group LLC now owns 25,930 shares of the company’s stock valued at $1,157,000 after buying an additional 2,288 shares during the period. Suntrust Banks Inc. boosted its position in Sealed Air Corp. by 17.0% in the fourth quarter. Suntrust Banks Inc. now owns 28,213 shares of the company’s stock valued at $1,257,000 after buying an additional 4,094 shares during the period. ProShare Advisors LLC boosted its position in Sealed Air Corp. by 2.9% in the fourth quarter. ProShare Advisors LLC now owns 28,640 shares of the company’s stock valued at $1,277,000 after buying an additional 804 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Sealed Air Corp. by 19.3% in the fourth quarter. Advisors Asset Management Inc. now owns 37,242 shares of the company’s stock valued at $1,661,000 after buying an additional 6,032 shares during the period.
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 processors, retailers and food service operators a range of integrated system solutions.
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