Sealed Air (NYSE:SEE) had its target price decreased by Robert W. Baird from $55.00 to $41.00 in a research note published on Thursday, The Fly reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.
Other equities analysts have also recently issued reports about the company. Bank of America cut Sealed Air from a buy rating to a neutral rating and set a $40.00 price objective on the stock. in a research note on Thursday. ValuEngine raised Sealed Air from a sell rating to a hold rating in a research report on Saturday, July 28th. Barclays dropped their target price on Sealed Air from $51.00 to $50.00 and set an overweight rating on the stock in a research report on Thursday, August 9th. Zacks Investment Research lowered Sealed Air from a buy rating to a hold rating in a research report on Tuesday, July 3rd. Finally, KeyCorp reaffirmed a hold rating on shares of Sealed Air in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $47.09.
SEE traded down $0.60 during trading hours on Thursday, hitting $31.75. 133,157 shares of the stock were exchanged, compared to its average volume of 2,073,017. Sealed Air has a 12 month low of $31.50 and a 12 month high of $49.94. The stock has a market capitalization of $5.60 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The company has a debt-to-equity ratio of -8.64, a current ratio of 1.11 and a quick ratio of 0.69.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, December 6th. Sealed Air’s dividend payout ratio is presently 35.36%.
In other Sealed Air news, Director Jerry R. Whitaker purchased 1,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were bought at an average cost of $39.81 per share, with a total value of $39,810.00. Following the completion of the acquisition, the director now owns 8,021 shares of the company’s stock, valued at $319,316.01. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Edward L. Doheny II purchased 5,000 shares of the stock in a transaction dated Monday, August 13th. The shares were acquired at an average cost of $39.65 per share, for a total transaction of $198,250.00. Following the completion of the acquisition, the insider now directly owns 78,145 shares of the company’s stock, valued at approximately $3,098,449.25. The disclosure for this purchase can be found here. Insiders acquired 6,600 shares of company stock worth $262,654 over the last ninety days. 0.63% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of Sealed Air by 1.3% during the second quarter. Wells Fargo & Company MN now owns 6,432,847 shares of the industrial products company’s stock valued at $273,074,000 after purchasing an additional 85,011 shares during the period. Manning & Napier Group LLC increased its holdings in shares of Sealed Air by 2.4% during the third quarter. Manning & Napier Group LLC now owns 2,555,495 shares of the industrial products company’s stock valued at $102,602,000 after purchasing an additional 59,445 shares during the period. Bank of America Corp DE increased its holdings in shares of Sealed Air by 14.2% during the second quarter. Bank of America Corp DE now owns 1,532,074 shares of the industrial products company’s stock valued at $65,037,000 after purchasing an additional 190,557 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Sealed Air by 35.6% during the second quarter. Victory Capital Management Inc. now owns 1,427,017 shares of the industrial products company’s stock valued at $60,577,000 after purchasing an additional 374,733 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Sealed Air by 43.8% during the second quarter. American Century Companies Inc. now owns 1,316,525 shares of the industrial products company’s stock valued at $55,886,000 after purchasing an additional 401,096 shares during the period. 96.30% of the stock is currently owned by institutional investors.
Sealed Air Company Profile
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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