Sealed Air (NYSE:SEE) Lowered to Hold at StockNews.com

StockNews.com cut shares of Sealed Air (NYSE:SEE) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

SEE has been the subject of a number of other reports. Mizuho raised shares of Sealed Air from a neutral rating to a buy rating and lifted their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Truist Financial reissued a buy rating and issued a $44.00 price objective on shares of Sealed Air in a research note on Monday, June 17th. Finally, William Blair reaffirmed a market perform rating on shares of Sealed Air in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $44.90.

Sealed Air Stock Performance

SEE opened at $34.62 on Wednesday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 3.12 and a beta of 1.35. The company has a fifty day moving average of $36.65 and a 200 day moving average of $35.82. Sealed Air has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts forecast that Sealed Air will post 2.89 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.31%. Sealed Air’s payout ratio is 32.13%.

Institutional Investors Weigh In On Sealed Air

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invenomic Capital Management LP bought a new stake in Sealed Air during the 4th quarter valued at about $6,834,000. BNP Paribas Financial Markets raised its holdings in shares of Sealed Air by 158.5% in the 4th quarter. BNP Paribas Financial Markets now owns 322,620 shares of the industrial products company’s stock valued at $11,782,000 after purchasing an additional 197,799 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Sealed Air in the 4th quarter valued at about $2,965,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of Sealed Air by 66.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock valued at $8,218,000 after purchasing an additional 99,700 shares in the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Sealed Air in the 4th quarter valued at about $852,000. Institutional investors own 94.40% of the company’s stock.

About Sealed Air

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.