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

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

Sealed Air Price Performance

Shares of NYSE SEE opened at $29.58 on Friday. Sealed Air Co. has a twelve month low of $29.33 and a twelve month high of $41.14. The firm has a market cap of $4.31 billion, a P/E ratio of 10.88 and a beta of 1.32. The company has a 50 day moving average of $33.68 and a 200 day moving average of $34.78. 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 for the quarter, topping 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Sealed Air’s dividend payout ratio is presently 44.20%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SEE. Mizuho cut their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Citigroup lowered their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Bank of America reduced their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research report on Tuesday, March 4th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

Institutional Investors Weigh In On Sealed Air

A number of hedge funds have recently added to or reduced their stakes in SEE. Pacer Advisors Inc. purchased a new stake in Sealed Air during the 3rd quarter valued at $139,800,000. Vanguard Group Inc. raised its stake in 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 during the last quarter. Invesco Ltd. raised its stake in Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock valued at $128,176,000 after buying an additional 1,549,184 shares during the last quarter. Norges Bank purchased a new stake in Sealed Air during the 4th quarter valued at $50,562,000. Finally, Swedbank AB purchased a new stake in Sealed Air during the 3rd quarter valued at $53,681,000. 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.