Sealed Air Corp (NYSE:SEE) was the target of some unusual options trading on Thursday. Traders acquired 4,053 call options on the stock. This is an increase of 1,459% compared to the average volume of 260 call options.
Several analysts have weighed in on the company. Barclays cut their price objective on Sealed Air from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, October 22nd. ValuEngine raised Sealed Air from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 7th. Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research report on Thursday, October 18th. Robert W. Baird cut their price objective on Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 18th. Finally, Zacks Investment Research cut Sealed Air from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $45.00.
Hedge funds have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board lifted its holdings in shares of Sealed Air by 2.0% during the second quarter. State of Wisconsin Investment Board now owns 152,963 shares of the industrial products company’s stock valued at $6,493,000 after purchasing an additional 2,948 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Sealed Air by 14.2% during the second quarter. Bank of America Corp DE now owns 1,532,074 shares of the industrial products company’s stock valued at $65,037,000 after purchasing an additional 190,557 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Sealed Air during the third quarter valued at approximately $500,000. First Republic Investment Management Inc. lifted its holdings in shares of Sealed Air by 11.2% during the second quarter. First Republic Investment Management Inc. now owns 52,646 shares of the industrial products company’s stock valued at $2,236,000 after purchasing an additional 5,300 shares during the last quarter. Finally, PGGM Investments lifted its holdings in shares of Sealed Air by 113.6% during the third quarter. PGGM Investments now owns 385,506 shares of the industrial products company’s stock valued at $15,478,000 after purchasing an additional 205,000 shares during the last quarter. Hedge funds and other institutional investors own 94.62% of the company’s stock.
Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Sealed Air had a negative return on equity of 150.20% and a negative net margin of 0.87%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm posted $0.46 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Sealed Air will post 2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.83%. Sealed Air’s payout ratio is 35.36%.
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About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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