Sealed Air Corporation (NYSE:SEE) – Equities research analysts at Gabelli boosted their FY2017 EPS estimates for Sealed Air in a note issued to investors on Tuesday. Gabelli analyst R. Morbelli now expects that the industrial products company will post earnings of $1.78 per share for the year, up from their prior estimate of $1.77.
A number of other analysts have also weighed in on SEE. BidaskClub upgraded Sealed Air from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. Jefferies Group restated a “hold” rating and issued a $44.00 target price on shares of Sealed Air in a research note on Friday, August 11th. BMO Capital Markets reiterated a “hold” rating and issued a $47.00 price objective on shares of Sealed Air in a research report on Sunday, August 27th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price objective on shares of Sealed Air in a research report on Friday, September 1st. Finally, Citigroup lowered Sealed Air from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $52.00 to $47.00 in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.83.
Sealed Air (NYSE:SEE) last announced its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. Sealed Air’s payout ratio is 12.19%.
In other Sealed Air news, Director Lawrence R. Codey sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total transaction of $150,185.00. Following the transaction, the director now owns 38,180 shares in the company, valued at $1,638,303.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Emile Z. Chammas sold 6,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the transaction, the senior vice president now owns 142,077 shares in the company, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. 1.05% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SEE. HighTower Advisors LLC lifted its holdings in shares of Sealed Air by 10.8% during the 2nd quarter. HighTower Advisors LLC now owns 7,859 shares of the industrial products company’s stock valued at $351,000 after purchasing an additional 769 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sealed Air by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,823 shares of the industrial products company’s stock valued at $38,442,000 after purchasing an additional 20,144 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Sealed Air by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 949,170 shares of the industrial products company’s stock valued at $42,485,000 after purchasing an additional 50,305 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Sealed Air by 20.4% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 50,479 shares of the industrial products company’s stock valued at $2,259,000 after purchasing an additional 8,547 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sealed Air by 1,672.6% during the 2nd quarter. Victory Capital Management Inc. now owns 616,605 shares of the industrial products company’s stock valued at $27,599,000 after purchasing an additional 581,819 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.
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About Sealed Air
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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