Sealed Air (NYSE:SEE) Hits New 12-Month Low – Here’s What Happened

Sealed Air Co. (NYSE:SEE) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $30.72 and last traded at $31.10, with a volume of 522323 shares. The stock had previously closed at $31.93.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SEE. Mizuho dropped their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Citigroup decreased their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group raised their target price on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Truist Financial raised their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.25.

Sealed Air Price Performance

The business’s 50-day moving average price is $33.89 and its 200 day moving average price is $34.87. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $4.43 billion, a P/E ratio of 11.17 and a beta of 1.32.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Analysts anticipate 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. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. Sealed Air’s dividend payout ratio is presently 44.20%.

Institutional Trading of Sealed Air

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Sealed Air during the fourth quarter valued at about $27,000. Manchester Capital Management LLC increased its position in shares of Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Sealed Air by 218.0% during the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after buying an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sealed Air in the 4th quarter worth approximately $45,000. Finally, Smartleaf Asset Management LLC boosted its stake in Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after buying an additional 913 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

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.