Short Interest in Sealed Air Co. (NYSE:SEE) Drops By 20.4%

Sealed Air Co. (NYSE:SEEGet Free Report) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 5,020,000 shares, a drop of 20.4% from the May 15th total of 6,310,000 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 3.3 days.

Analysts Set New Price Targets

SEE has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Sealed Air in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. Truist Financial reissued a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research note on Monday. Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.90.

Get Our Latest Research Report on SEE

Institutional Trading of Sealed Air

Institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new position in shares of Sealed Air in the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Sealed Air in the fourth quarter valued at approximately $29,000. Fidelis Capital Partners LLC bought a new position in shares of Sealed Air in the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its position in shares of Sealed Air by 81.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 449 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in shares of Sealed Air in the third quarter valued at approximately $42,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Trading Down 0.1 %

Shares of SEE traded down $0.02 during midday trading on Monday, hitting $36.59. The stock had a trading volume of 1,444,221 shares, compared to its average volume of 1,564,928. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. The firm has a market cap of $5.33 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 3.29 and a beta of 1.35. The business has a 50-day simple moving average of $35.79 and a two-hundred day simple moving average of $35.68. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $47.12.

Sealed Air (NYSE:SEEGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. As a group, equities analysts forecast that Sealed Air will post 2.89 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, June 14th. Sealed Air’s dividend payout ratio is currently 32.13%.

About Sealed Air

(Get Free Report)

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, 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, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.

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