Traders Buy Sealed Air Corporation (SEE) on Weakness
Investors bought shares of Sealed Air Corporation (NYSE:SEE) on weakness during trading hours on Tuesday. $41.82 million flowed into the stock on the tick-up and $13.47 million flowed out of the stock on the tick-down, for a money net flow of $28.35 million into the stock. Of all equities tracked, Sealed Air Corporation had the 29th highest net in-flow for the day. Sealed Air Corporation traded down ($0.72) for the day and closed at $44.23
Several equities analysts have recently commented on the company. BMO Capital Markets reiterated a “hold” rating and set a $47.00 target price on shares of Sealed Air Corporation in a research note on Thursday, July 20th. Zacks Investment Research cut Sealed Air Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. BidaskClub cut Sealed Air Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Robert W. Baird reiterated an “outperform” rating and set a $55.00 target price on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $44.00 target price on shares of Sealed Air Corporation in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Sealed Air Corporation presently has an average rating of “Hold” and an average target price of $49.27.
The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 22.10 and a beta of 1.19. The stock’s 50 day moving average is $44.60 and its 200-day moving average is $44.66.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company posted $0.65 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Sealed Air Corporation will post $1.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio is presently 33.16%.
A number of large investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC raised its position in Sealed Air Corporation by 2.1% during the second quarter. Lord Abbett & CO. LLC now owns 1,180,822 shares of the industrial products company’s stock worth $52,854,000 after acquiring an additional 24,354 shares during the period. Sentry Investment Management LLC raised its position in Sealed Air Corporation by 2.6% during the second quarter. Sentry Investment Management LLC now owns 6,824 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 173 shares during the period. Toronto Dominion Bank raised its position in Sealed Air Corporation by 24.1% during the second quarter. Toronto Dominion Bank now owns 73,350 shares of the industrial products company’s stock worth $3,283,000 after acquiring an additional 14,227 shares during the period. U S Global Investors Inc. acquired a new position in Sealed Air Corporation during the second quarter worth $1,331,000. Finally, WINTON GROUP Ltd acquired a new position in Sealed Air Corporation during the second quarter worth $335,000. Institutional investors own 92.16% of the company’s stock.
About Sealed Air Corporation
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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