Investors Purchase High Volume of Sealed Air Call Options (SEE)
Sealed Air Corporation (NYSE:SEE) was the target of some unusual options trading on Wednesday. Investors bought 12,057 call options on the stock. This is an increase of approximately 1,923% compared to the average daily volume of 596 call options.
In other news, Director Lawrence R. Codey sold 3,500 shares of Sealed Air stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the transaction, the director now owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Emile Z. Chammas sold 6,000 shares of Sealed Air stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the completion of the transaction, the senior vice president now directly owns 142,077 shares of the company’s stock, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. bought a new position in Sealed Air in the 2nd quarter valued at $124,000. Massey Quick Simon & CO. LLC bought a new position in Sealed Air in the 3rd quarter valued at $140,000. Global X Management Co. LLC grew its position in Sealed Air by 23.7% in the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock valued at $163,000 after acquiring an additional 699 shares during the last quarter. Pacer Advisors Inc. grew its position in Sealed Air by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 322 shares during the last quarter. Finally, King Luther Capital Management Corp bought a new position in Sealed Air in the 2nd quarter valued at $205,000. Institutional investors own 93.09% of the company’s stock.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.41 EPS. Sealed Air’s revenue for the quarter was up 6.2% on a year-over-year basis. analysts predict that Sealed Air will post 1.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.34%. Sealed Air’s payout ratio is 61.54%.
Several equities analysts have recently issued reports on SEE shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $47.00 price target on shares of Sealed Air in a research report on Thursday, November 9th. Bank of America set a $50.00 price target on Sealed Air and gave the stock a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research lowered Sealed Air from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Citigroup lowered Sealed Air from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $47.00 in a research report on Thursday, September 7th. Finally, Barclays lifted their price target on Sealed Air from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Sealed Air has an average rating of “Hold” and a consensus price target of $48.83.
Sealed Air 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 (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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