Sealed Air Corp (NYSE:SEE) – Equities research analysts at Jefferies Financial Group cut their Q3 2018 EPS estimates for Sealed Air in a note issued to investors on Wednesday, October 17th. Jefferies Financial Group analyst D. Rizzo now anticipates that the industrial products company will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.67. Jefferies Financial Group also issued estimates for Sealed Air’s Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $2.45 EPS, FY2019 earnings at $2.65 EPS and FY2020 earnings at $3.05 EPS.
Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Sealed Air had a return on equity of 859.42% and a net margin of 14.37%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share.
Shares of NYSE SEE opened at $32.35 on Friday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.51 and a beta of 1.10. The company has a debt-to-equity ratio of -8.64, a quick ratio of 0.69 and a current ratio of 1.11. Sealed Air has a 52-week low of $31.50 and a 52-week high of $49.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, December 6th. Sealed Air’s dividend payout ratio is currently 35.36%.
In related news, insider Edward L. Doheny II acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $39.65 per share, with a total value of $198,250.00. Following the completion of the transaction, the insider now owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jerry R. Whitaker acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $39.81 per share, for a total transaction of $39,810.00. Following the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at approximately $319,316.01. The disclosure for this purchase can be found here. Insiders have bought 6,600 shares of company stock worth $262,654 in the last ninety days. Corporate insiders own 0.63% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in Sealed Air by 2.4% in the second quarter. Russell Investments Group Ltd. now owns 54,443 shares of the industrial products company’s stock valued at $2,311,000 after buying an additional 1,275 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Sealed Air by 3.4% in the third quarter. State of Alaska Department of Revenue now owns 45,897 shares of the industrial products company’s stock valued at $1,841,000 after buying an additional 1,520 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in Sealed Air by 31.7% in the second quarter. IFM Investors Pty Ltd now owns 7,969 shares of the industrial products company’s stock valued at $338,000 after buying an additional 1,916 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Sealed Air by 11.8% in the second quarter. Janney Montgomery Scott LLC now owns 20,086 shares of the industrial products company’s stock valued at $853,000 after buying an additional 2,118 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its holdings in Sealed Air by 29.4% in the second quarter. Chicago Equity Partners LLC now owns 10,355 shares of the industrial products company’s stock valued at $440,000 after buying an additional 2,355 shares during the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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