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

Sealed Air Co. (NYSE:SEE)’s share price gapped up prior to trading 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 changing hands.

Analysts Set New Price Targets

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

Sealed Air Trading Up 6.5 %

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

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, equities research analysts anticipate that Sealed Air Co. will post 2.8 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 22nd. Shareholders of record on Friday, March 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s payout ratio is 33.90%.

Hedge Funds Weigh In On Sealed Air

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new position in shares of Sealed Air during the 3rd quarter valued at $895,000. Louisiana State Employees Retirement System purchased a new position in shares of Sealed Air in the fourth quarter worth about $2,965,000. Adage Capital Partners GP L.L.C. raised its position in shares of Sealed Air by 66.3% in the third 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 during the period. Envestnet Asset Management Inc. lifted its stake in shares of Sealed Air by 45.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock valued at $17,348,000 after buying an additional 165,694 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Sealed Air by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after buying an additional 92,114 shares during the period. 94.40% of the stock is 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.