Sealed Air Corp (NYSE:SEE) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.03. Sealed Air Corp had a net margin of 7.02% and a return on equity of 89.29%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm earned $0.50 EPS. Sealed Air Corp’s quarterly revenue was up 2.6% on a year-over-year basis.
Sealed Air Corp (NYSE:SEE) traded up 1.07% on Friday, reaching $43.40. 1,118,192 shares of the company traded hands. The company has a market capitalization of $8.50 billion, a PE ratio of 24.94 and a beta of 1.27. Sealed Air Corp has a one year low of $41.74 and a one year high of $50.62. The stock’s 50 day moving average price is $43.64 and its 200 day moving average price is $46.10. Sealed Air Corp also saw unusually large options trading activity on Thursday. Stock investors purchased 17,366 call options on the stock. This represents an increase of 1,328% compared to the typical volume of 1,216 call options.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.49%. Sealed Air Corp’s dividend payout ratio (DPR) is presently 26.56%.
In related news, insider Jerome A. Peribere purchased 6,960 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $42.97 per share, with a total value of $299,071.20. Following the acquisition, the insider now directly owns 199,000 shares in the company, valued at approximately $8,551,030. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Emile Z. Chammas purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average cost of $43.09 per share, for a total transaction of $129,270.00. Following the acquisition, the insider now owns 148,077 shares in the company, valued at $6,380,637.93. The disclosure for this purchase can be found here. 0.86% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in SEE. Great West Life Assurance Co. Can boosted its stake in Sealed Air Corp by 4.1% in the third quarter. Great West Life Assurance Co. Can now owns 180,063 shares of the industrial products company’s stock valued at $8,246,000 after buying an additional 7,128 shares during the last quarter. World Asset Management Inc raised its position in Sealed Air Corp by 1.5% in the third quarter. World Asset Management Inc now owns 19,561 shares of the industrial products company’s stock worth $896,000 after buying an additional 294 shares during the period. Manning & Napier Advisors LLC acquired a new position in Sealed Air Corp during the third quarter worth $2,348,000. State of Wisconsin Investment Board raised its position in Sealed Air Corp by 4.9% in the third quarter. State of Wisconsin Investment Board now owns 356,719 shares of the industrial products company’s stock worth $16,345,000 after buying an additional 16,700 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in Sealed Air Corp by 3.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 284,341 shares of the industrial products company’s stock worth $13,029,000 after buying an additional 9,200 shares during the period. Hedge funds and other institutional investors own 89.74% of the company’s stock.
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A number of brokerages recently weighed in on SEE. Royal Bank of Canada reaffirmed a “buy” rating and issued a $52.00 target price on shares of Sealed Air Corp in a research note on Tuesday, April 11th. TheStreet cut shares of Sealed Air Corp from a “b” rating to a “c+” rating in a report on Tuesday, May 9th. Jefferies Group LLC dropped their target price on shares of Sealed Air Corp from $45.00 to $40.00 and set a “hold” rating on the stock in a report on Wednesday, May 10th. Credit Suisse Group AG set a $50.00 price target on shares of Sealed Air Corp and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, Zacks Investment Research raised shares of Sealed Air Corp from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price 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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