Sealed Air Target of Unusually Large Options Trading (SEE)

Sealed Air Corp (NYSE:SEE) was the target of some unusual options trading on Thursday. Stock traders bought 4,061 put options on the company. This represents an increase of approximately 7,025% compared to the average volume of 57 put options.

SEE has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, October 11th. UBS Group set a $45.00 price objective on Sealed Air and gave the company a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. ValuEngine downgraded Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Robert W. Baird dropped their price target on Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.00.

Hedge funds have recently made changes to their positions in the business. State of Wisconsin Investment Board grew its stake in shares of Sealed Air by 2.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 152,963 shares of the industrial products company’s stock valued at $6,493,000 after purchasing an additional 2,948 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Sealed Air by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 1,532,074 shares of the industrial products company’s stock valued at $65,037,000 after purchasing an additional 190,557 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Sealed Air in the 3rd quarter valued at approximately $500,000. First Republic Investment Management Inc. grew its stake in shares of Sealed Air by 11.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 52,646 shares of the industrial products company’s stock valued at $2,236,000 after purchasing an additional 5,300 shares during the last quarter. Finally, PGGM Investments grew its stake in shares of Sealed Air by 113.6% in the 3rd quarter. PGGM Investments now owns 385,506 shares of the industrial products company’s stock valued at $15,478,000 after purchasing an additional 205,000 shares during the last quarter. Institutional investors own 94.62% of the company’s stock.

NYSE:SEE opened at $34.88 on Friday. The company has a market cap of $5.46 billion, a P/E ratio of 19.27, a PEG 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, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative return on equity of 150.20% and a negative net margin of 0.87%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. As a group, analysts expect that Sealed Air will post 2.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.83%. Sealed Air’s dividend payout ratio is presently 35.36%.

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About Sealed Air

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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