Sealed Air Co. (NYSE:SEE – Get Rating) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 1,850,000 shares, a decrease of 16.7% from the June 30th total of 2,220,000 shares. Based on an average daily volume of 881,900 shares, the short-interest ratio is presently 2.1 days. Currently, 1.3% of the shares of the stock are sold short.
Sealed Air Price Performance
Shares of SEE stock opened at $56.43 on Friday. Sealed Air has a 52-week low of $54.51 and a 52-week high of $70.72. The stock has a market cap of $8.24 billion, a PE ratio of 15.33, a PEG ratio of 1.74 and a beta of 1.14. The company has a debt-to-equity ratio of 18.30, a quick ratio of 0.74 and a current ratio of 1.34. The firm’s 50 day moving average price is $59.03 and its two-hundred day moving average price is $63.56.
Sealed Air (NYSE:SEE – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, analysts forecast that Sealed Air will post 4.12 EPS for the current year.
Sealed Air Dividend Announcement
Analyst Upgrades and Downgrades
SEE has been the subject of several recent analyst reports. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $80.00 to $64.00 in a report on Wednesday, July 20th. Wells Fargo & Company lowered their price target on shares of Sealed Air from $71.00 to $62.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. JPMorgan Chase & Co. lowered shares of Sealed Air from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $71.00 to $62.00 in a report on Wednesday, June 1st. Mizuho lowered their price target on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Sealed Air presently has a consensus rating of “Hold” and an average target price of $69.75.
Insider Buying and Selling
In other Sealed Air news, SVP Sergio A. Pupkin purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $57.66 per share, with a total value of $57,660.00. Following the completion of the transaction, the senior vice president now directly owns 45,748 shares of the company’s stock, valued at approximately $2,637,829.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Sergio A. Pupkin acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $57.66 per share, with a total value of $57,660.00. Following the completion of the acquisition, the senior vice president now owns 45,748 shares in the company, valued at approximately $2,637,829.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward L. Doheny II acquired 4,500 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $56.95 per share, with a total value of $256,275.00. Following the acquisition, the chief executive officer now owns 515,254 shares of the company’s stock, valued at approximately $29,343,715.30. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.
Hedge Funds Weigh In On Sealed Air
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in shares of Sealed Air during the second quarter worth $692,000. Seven Eight Capital LP bought a new stake in Sealed Air in the 2nd quarter valued at $330,000. Aviva PLC acquired a new stake in Sealed Air in the 2nd quarter valued at $434,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Sealed Air by 6.8% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,444 shares of the industrial products company’s stock valued at $4,874,000 after buying an additional 5,402 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Sealed Air by 6.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 287,769 shares of the industrial products company’s stock valued at $16,610,000 after buying an additional 18,511 shares during the last quarter. 90.23% of the stock is owned by institutional investors.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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