Sealed Air (NYSE:SEE) Reaches New 1-Year Low - What's Next?

Shares of Sealed Air Co. (NYSE:SEE - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $28.37 and last traded at $28.65, with a volume of 53943 shares. The stock had previously closed at $29.00.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SEE shares. Morgan Stanley reduced their target price on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Mizuho cut their target price on Sealed Air from $45.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Truist Financial boosted their price target on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Citigroup dropped their price objective on Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Sealed Air Stock Performance

The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 9.08 and a beta of 1.32. The stock has a 50-day moving average of $32.11 and a 200 day moving average of $34.24.

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Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Sealed Air's revenue was down .4% on a year-over-year basis. On average, analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, March 14th. Sealed Air's payout ratio is 44.20%.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now directly owns 35,000 shares of the company's stock, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Sealed Air

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after purchasing an additional 2,754,395 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after buying an additional 1,549,184 shares during the last quarter. Norges Bank acquired a new stake in shares of Sealed Air in the fourth quarter valued at about $50,562,000. T. Rowe Price Investment Management Inc. raised its holdings in Sealed Air by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock worth $416,657,000 after acquiring an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Sealed Air by 84.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock valued at $68,182,000 after purchasing an additional 920,000 shares in the last quarter. 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.