Sealed Air (NYSE:SEE) Reaches New 1-Year Low - Here's What Happened

Shares of Sealed Air Co. (NYSE:SEE - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $27.11 and last traded at $27.51, with a volume of 1335086 shares traded. The stock had previously closed at $27.91.

Wall Street Analyst Weigh In

Several brokerages recently commented on SEE. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their price objective on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Bank of America cut their price objective on Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Finally, Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Sealed Air Trading Up 2.6 %

The firm has a market cap of $4.12 billion, a PE ratio of 10.30 and a beta of 1.35. The firm has a 50 day moving average of $28.53 and a 200 day moving average of $32.81. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The company's revenue was down .4% compared to the same quarter last year. Equities analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.86%. Sealed Air's dividend payout ratio is currently 44.20%.

Insider Activity

In related news, Director Henry R. Keizer bought 1,120 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sealed Air

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock valued at $1,430,000 after purchasing an additional 348 shares during the period. Horizon Kinetics Asset Management LLC boosted its stake in Sealed Air by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after buying an additional 350 shares during the period. Choreo LLC grew its position in Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock worth $331,000 after buying an additional 351 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Sealed Air by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 375 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Sealed Air by 3.3% during the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock valued at $399,000 after acquiring an additional 377 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Company Profile

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.