Sealed Air Co. (NYSE:SEE) Director Acquires $33,600.00 in Stock

Sealed Air Co. (NYSE:SEE) Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the transaction, the director now owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Sealed Air Stock Performance

NYSE SEE opened at $30.32 on Wednesday. The business has a 50-day moving average price of $33.76 and a 200-day moving average price of $34.81. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 11.15 and a beta of 1.32. Sealed Air Co. has a twelve month low of $29.82 and a twelve month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $0.88 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research 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. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s payout ratio is currently 44.20%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in Sealed Air in the 3rd quarter worth approximately $139,800,000. Vanguard Group Inc. grew its holdings in shares of Sealed Air by 17.7% in 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. Invesco Ltd. grew its holdings in shares of Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock valued at $128,176,000 after purchasing an additional 1,549,184 shares in the last quarter. Norges Bank bought a new stake in Sealed Air in the fourth quarter worth $50,562,000. Finally, Swedbank AB purchased a new stake in Sealed Air during the third quarter valued at $53,681,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group increased their price target on shares of Sealed Air from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Truist Financial boosted their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Jefferies Financial Group set a $36.00 target price on Sealed Air in a report on Tuesday, March 4th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $40.25.

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.