Sealed Air (NYSE:SEE) Shares Gap Up to $32.10

Shares of Sealed Air Co. (NYSE:SEE) gapped up before the market opened on Thursday . The stock had previously closed at $32.10, but opened at $35.00. Sealed Air shares last traded at $34.41, with a volume of 685,556 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SEE. Wolfe Research started coverage on shares of Sealed Air in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho cut their target price on Sealed Air from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Wells Fargo & Company raised Sealed Air from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Finally, Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and upped their price objective for the company from $39.00 to $44.00 in a research report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $44.18.

Sealed Air Stock Up 6.5 %

The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 8.21. The business has a 50-day moving average price of $34.38 and a 200-day moving average price of $34.33. The firm has a market cap of $4.98 billion, a P/E ratio of 14.49, a P/E/G ratio of 3.46 and a beta of 1.31.

Sealed Air (NYSE:SEE) last issued its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Sealed Air Co. will post 2.8 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.34%. Sealed Air’s dividend payout ratio is currently 33.90%.

Institutional Trading of Sealed Air

Several hedge funds and other institutional investors have recently bought and sold shares of SEE. Treasurer of the State of North Carolina raised its stake in shares of Sealed Air by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 63,143 shares of the industrial products company’s stock worth $2,075,000 after acquiring an additional 320 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Sealed Air by 4.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock worth $286,000 after purchasing an additional 342 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Sealed Air by 1.5% during the 3rd quarter. Yousif Capital Management LLC now owns 24,127 shares of the industrial products company’s stock valued at $793,000 after purchasing an additional 348 shares during the last quarter. Column Capital Advisors LLC boosted its position in shares of Sealed Air by 57.9% in the 3rd quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 385 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in Sealed Air by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,273 shares of the industrial products company’s stock worth $370,000 after buying an additional 389 shares during the last quarter. 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.