Investors Buy Sealed Air Corporation (SEE) on Weakness
Traders bought shares of Sealed Air Corporation (NYSE:SEE) on weakness during trading hours on Wednesday. $42.00 million flowed into the stock on the tick-up and $14.03 million flowed out of the stock on the tick-down, for a money net flow of $27.97 million into the stock. Of all equities tracked, Sealed Air Corporation had the 25th highest net in-flow for the day. Sealed Air Corporation traded down ($0.77) for the day and closed at $44.01
Several equities analysts have recently issued reports on SEE shares. SunTrust Banks, Inc. set a $48.00 price target on Sealed Air Corporation and gave the company a “buy” rating in a research note on Sunday, September 10th. BidaskClub upgraded Sealed Air Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Robert W. Baird restated a “buy” rating and set a $55.00 price objective on shares of Sealed Air Corporation in a research report on Friday, September 1st. Bank of America Corporation upgraded Sealed Air Corporation from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Thursday, September 21st. Finally, Barclays PLC restated an “equal weight” rating and set a $45.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $48.33.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.45%. Sealed Air Corporation’s payout ratio is presently 33.16%.
In related news, Director Lawrence R. Codey sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the sale, the director now directly owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC grew its stake in shares of Sealed Air Corporation by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 1,180,822 shares of the industrial products company’s stock worth $52,854,000 after purchasing an additional 24,354 shares during the last quarter. Sentry Investment Management LLC grew its stake in shares of Sealed Air Corporation by 2.6% in the second quarter. Sentry Investment Management LLC now owns 6,824 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 173 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Sealed Air Corporation by 24.1% in the second quarter. Toronto Dominion Bank now owns 73,350 shares of the industrial products company’s stock worth $3,283,000 after purchasing an additional 14,227 shares during the last quarter. U S Global Investors Inc. bought a new stake in shares of Sealed Air Corporation in the second quarter worth about $1,331,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Sealed Air Corporation in the second quarter worth about $335,000. 92.12% of the stock is currently owned by institutional investors.
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Sealed Air Corporation Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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