Sealed Air (NYSE:SEE) Hits New 52-Week Low – Here’s What Happened

Shares of Sealed Air Co. (NYSE:SEE) reached a new 52-week low during trading on Monday . The company traded as low as $28.37 and last traded at $28.65, with a volume of 53943 shares. The stock had previously closed at $29.00.

Analysts Set New Price Targets

Several 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 report on Monday, January 6th. Truist Financial increased their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. UBS Group increased their price target on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research note on Tuesday, March 4th. Finally, Morgan Stanley lowered their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

Sealed Air Stock Down 0.3 %

The firm has a market cap of $4.22 billion, a P/E ratio of 10.65 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The stock’s 50 day simple moving average is $32.64 and its two-hundred day simple moving average is $34.39.

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, beating 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 quarter in the prior year, the business earned $0.88 EPS. As a group, research analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.77%. Sealed Air’s payout ratio is 44.20%.

Insider Transactions at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Sealed Air

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Sealed Air by 17.7% during the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after buying an additional 2,754,395 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 purchasing an additional 1,549,184 shares in the last quarter. Norges Bank bought a new position in Sealed Air in the 4th quarter worth approximately $50,562,000. T. Rowe Price Investment Management Inc. grew its holdings in 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. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sealed Air by 84.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock worth $68,182,000 after buying an additional 920,000 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

About Sealed Air

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.