Sealed Air (NYSE:SEE) Hits New 1-Year Low – Here’s What Happened

Sealed Air Co. (NYSE:SEE)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $30.72 and last traded at $31.10, with a volume of 522323 shares traded. The stock had previously closed at $31.93.

Analysts Set New Price Targets

A number of brokerages have commented on SEE. Morgan Stanley cut their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. UBS Group raised their target price on Sealed Air from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Citigroup dropped their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research note on Tuesday, March 4th. Finally, Bank of America reduced their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

Sealed Air Price Performance

The firm has a 50 day moving average price of $33.76 and a two-hundred day moving average price of $34.81. The company has a market cap of $4.41 billion, a P/E ratio of 11.13 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts predict that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. Sealed Air’s dividend payout ratio is presently 44.20%.

Insider Transactions at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SEE. Vanguard Group Inc. boosted its position in shares of Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after purchasing an additional 2,754,395 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sealed Air by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company’s stock valued at $416,657,000 after buying an additional 1,081,848 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Sealed Air during the 3rd quarter valued at $139,800,000. Invesco Ltd. increased its stake in shares of Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock worth $128,176,000 after acquiring an additional 1,549,184 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Sealed Air by 57.3% during the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after purchasing an additional 846,882 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Company Profile

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.