Sealed Air Corp (NYSE:SEE) was the target of some unusual options trading activity on Thursday. Stock investors bought 4,053 call options on the stock. This is an increase of approximately 1,459% compared to the average daily volume of 260 call options.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Sealed Air by 2.4% during the second quarter. Russell Investments Group Ltd. now owns 54,443 shares of the industrial products company’s stock valued at $2,311,000 after acquiring an additional 1,275 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Sealed Air by 3.4% during the third quarter. State of Alaska Department of Revenue now owns 45,897 shares of the industrial products company’s stock valued at $1,841,000 after acquiring an additional 1,520 shares during the last quarter. First Republic Investment Management Inc. raised its stake in shares of Sealed Air by 3.2% during the third quarter. First Republic Investment Management Inc. now owns 54,307 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,661 shares during the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Sealed Air by 9.6% during the third quarter. Stone Ridge Asset Management LLC now owns 19,130 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 1,679 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Sealed Air by 11.8% during the second quarter. Janney Montgomery Scott LLC now owns 20,086 shares of the industrial products company’s stock valued at $853,000 after acquiring an additional 2,118 shares during the last quarter. 94.62% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on SEE shares. Barclays dropped their price objective on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. ValuEngine raised shares of Sealed Air from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Zacks Investment Research downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Citigroup dropped their price objective on shares of Sealed Air from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 11th. Finally, Bank of America downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.00.
SEE stock opened at $34.88 on Friday. The firm has a market cap of $5.46 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. Sealed Air has a 52-week low of $30.22 and a 52-week high of $49.94.
Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 earnings per share. On average, sell-side analysts forecast that Sealed Air will post 2.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 6th. Sealed Air’s payout ratio is currently 35.36%.
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Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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