Sealed Air (NYSE:SEE) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Sealed Air (NYSE:SEE) from a buy rating to a hold rating in a research report report published on Monday morning.

SEE has been the subject of several other research reports. Morgan Stanley assumed coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $35.00 in a report on Friday, August 9th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reduced their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sealed Air currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Price Performance

SEE opened at $36.61 on Monday. The company has a fifty day moving average price of $35.84 and a two-hundred day moving average price of $35.79. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air has a 52 week low of $30.87 and a 52 week high of $41.14. The firm has a market capitalization of $5.33 billion, a PE ratio of 13.46, a P/E/G ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, analysts anticipate that Sealed Air will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Institutional Investors Weigh In On Sealed Air

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in Sealed Air during the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the 2nd quarter worth about $34,000. Allspring Global Investments Holdings LLC lifted its position in Sealed Air by 100.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after buying an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sealed Air in the 2nd quarter valued at about $105,000. 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.