Sealed Air Corporation (NYSE:SEE – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $39.49 and traded as high as $42.04. Sealed Air shares last traded at $41.9910, with a volume of 3,028,671 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SEE. Robert W. Baird reaffirmed a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Sealed Air in a research note on Thursday, December 18th. Raymond James Financial lowered Sealed Air from an “outperform” rating to a “market perform” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sealed Air in a research note on Monday, December 29th. Finally, Truist Financial upped their target price on shares of Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.09.
Sealed Air Trading Up 0.1%
Sealed Air (NYSE:SEE – Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 47.21% and a net margin of 9.43%.The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 earnings per share. As a group, research analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.
Sealed Air Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, March 13th. Sealed Air’s payout ratio is currently 23.32%.
Institutional Investors Weigh In On Sealed Air
Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Sealed Air by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 45,556 shares of the industrial products company’s stock worth $1,610,000 after purchasing an additional 283 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Sealed Air by 4.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,567 shares of the industrial products company’s stock valued at $314,000 after buying an additional 329 shares during the period. Assetmark Inc. increased its holdings in shares of Sealed Air by 0.6% during the 3rd quarter. Assetmark Inc. now owns 59,172 shares of the industrial products company’s stock worth $2,092,000 after buying an additional 331 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Sealed Air by 15.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,505 shares of the industrial products company’s stock valued at $104,000 after buying an additional 332 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in shares of Sealed Air by 1.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 28,310 shares of the industrial products company’s stock valued at $1,173,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.
About Sealed Air
Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.
The company’s product portfolio is organized into three primary segments.
Further Reading
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