Insider Selling: Sealed Air Corp (SEE) CAO Sells 3,000 Shares of Stock
Sealed Air Corp (NYSE:SEE) CAO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $43.43, for a total transaction of $130,290.00. Following the completion of the transaction, the chief accounting officer now owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Sealed Air Corp (NYSE:SEE) traded up 0.80% on Tuesday, reaching $44.25. 103,509 shares of the company traded hands. Sealed Air Corp has a one year low of $41.74 and a one year high of $50.62. The company has a market capitalization of $8.66 billion, a PE ratio of 25.43 and a beta of 1.27. The firm has a 50-day moving average price of $43.66 and a 200 day moving average price of $46.08.
Sealed Air Corp (NYSE:SEE) last issued 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. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Sealed Air Corp had a return on equity of 89.29% and a net margin of 7.02%. Sealed Air Corp’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts forecast that Sealed Air Corp will post $1.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, May 31st. Sealed Air Corp’s dividend payout ratio is currently 26.56%.
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Large investors have recently made changes to their positions in the stock. Assetmark Inc. boosted its stake in shares of Sealed Air Corp by 1.0% in the first quarter. Assetmark Inc. now owns 2,444 shares of the industrial products company’s stock worth $107,000 after buying an additional 25 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in shares of Sealed Air Corp during the first quarter worth about $109,000. Global X Management Co. LLC boosted its stake in shares of Sealed Air Corp by 30.4% in the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock worth $129,000 after buying an additional 687 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Sealed Air Corp during the fourth quarter worth about $156,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Sealed Air Corp by 19.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,571 shares of the industrial products company’s stock worth $163,000 after buying an additional 578 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
SEE has been the subject of several research analyst reports. KeyCorp reiterated a “hold” rating on shares of Sealed Air Corp in a report on Friday, February 24th. Jefferies Group LLC reduced their price target on shares of Sealed Air Corp to $45.00 in a report on Friday, February 10th. Goldman Sachs Group Inc cut shares of Sealed Air Corp from a “conviction-buy” rating to a “buy” rating and reduced their price target for the company from $53.00 to $50.00 in a report on Tuesday, April 4th. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 price target on shares of Sealed Air Corp in a report on Tuesday, March 21st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price target (down previously from $50.00) on shares of Sealed Air Corp in a report on Tuesday, March 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.
About Sealed Air Corp
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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