Sealed Air Corp (NYSE:SEE) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 7,292,300 shares, a decrease of 14.3% from the July 31st total of 8,512,600 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average trading volume of 1,250,000 shares, the short-interest ratio is presently 5.8 days.
NYSE SEE traded up $1.09 on Friday, reaching $42.40. The company had a trading volume of 1,306,700 shares, compared to its average volume of 1,453,571. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.50 and a beta of 1.08. Sealed Air has a fifty-two week low of $30.22 and a fifty-two week high of $47.13. The business has a 50 day moving average of $42.19 and a two-hundred day moving average of $43.67.
Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.16. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. Sealed Air’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts forecast that Sealed Air will post 2.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.51%. Sealed Air’s payout ratio is 25.60%.
SEE has been the subject of a number of research reports. Wells Fargo & Co increased their price target on Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price target for the company. in a research note on Friday, June 21st. Finally, KeyCorp restated a “sell” rating and issued a $39.00 price objective on shares of Sealed Air in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $42.69.
A number of institutional investors have recently modified their holdings of the business. CSat Investment Advisory L.P. grew its holdings in Sealed Air by 34.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,234 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 314 shares during the period. Piedmont Investment Advisors Inc. grew its holdings in Sealed Air by 3.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,884 shares of the industrial products company’s stock worth $409,000 after acquiring an additional 333 shares during the period. MML Investors Services LLC grew its holdings in Sealed Air by 3.3% during the 2nd quarter. MML Investors Services LLC now owns 11,530 shares of the industrial products company’s stock worth $493,000 after acquiring an additional 365 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Sealed Air by 2.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 14,829 shares of the industrial products company’s stock worth $683,000 after acquiring an additional 422 shares during the period. Finally, Thompson Investment Management Inc. grew its holdings in Sealed Air by 1.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 46,723 shares of the industrial products company’s stock worth $1,999,000 after acquiring an additional 468 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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