Sealed Air (NYSE:SEE) lowers share gap to $35.56

Sealed Air Co stock price (NYSE:SEE – Get Free Report ) fell in pre-market trading on Friday. The stock had previously closed at $35.56 but opened at $34.09. Sealed Air shares last traded at $32.53 with a volume of 456,408 shares.

Analysts on Wall Street are forecasting an increase

A number of research firms recently issued reports on SEE. Truist Financial restated a “buy” rating and issued a $44.00 target price on shares of Sealed Air in a report on Monday, June 17th. Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. William Blair reissued a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Stifel Nicolaus assumed coverage on shares of Sealed Air in a report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price target for the company. Finally, UBS Group reduced their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th . Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sealed Air has a consensus rating of “Moderate Buy” and a consensus price target of $42.60, based on data from MarketBeat.

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Air tight price performance

The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33, and a quick ratio of 0.80. The stock has a market cap of $4.82 billion, a P/E ratio of 13.30, a PEG ratio of 4.27 and a beta of 1.35. The stock’s fifty-day moving average is $36.31, and its 200-day moving average is $35.73.

Sealed Air (NYSE:SEE – Get Free Report ) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. In the same quarter last year, the company posted EPS of $0.80. The company’s revenue fell 2.6% year over year. On average, equities analysts anticipate that Sealed Air Co. will post 2.86 earnings per share for the current year.

Sealed Air announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, September 13. Sealed Air’s dividend payout ratio is currently 32.13%.

Institutional inputs and outputs

Several institutional investors have recently bought and sold shares of SEE. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sealed Air by 4.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 342 shares during the period. Arizona State Retirement System boosted its position in shares of Sealed Air by 2.5% in the fourth quarter. Arizona State Retirement System now owns 40,369 shares of the industrial products company’s stock valued at $1,474,000 after acquiring an additional 977 shares during the period. International Assets Investment Management LLC grew its stake in Sealed Air by 6,254.6% in the fourth quarter. International Assets Investment Management LLC now owns 106,821 shares of the industrial products company’s stock worth $3,901,000 after purchasing an additional 105,140 shares during the last quarter. New York State Teachers Retirement System raised its position in Sealed Air by 17.1% during the fourth quarter. New York State Teachers Retirement System now owns 165,933 shares of the industrial products company’s stock worth $6,060,000 after acquiring an additional 24,182 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in Sealed Air by 272.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 100,560 shares of the industrial products company’s stock, valued at $3,675,000. after acquiring an additional 73,573 shares in the last quarter. Institutional investors own 94.40% of the company’s shares.

About Sealed Air

(Get a 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 provides integrated packaging materials and automation equipment solutions to ensure food safety, extend shelf life, reduce food waste, automate processes and optimize total cost for food processors in fresh red meat, smoked and processed meat, meat bird, seafood, plants. fluid and liquid based markets and cheeses under the brands CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps and Optidure.

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