Insider Buying: Sealed Air Co. (NYSE:SEE) Director Buys 1,120 Shares of Stock

Sealed Air Co. (NYSE:SEE) Director Henry R. Keizer purchased 1,120 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sealed Air Price Performance

Sealed Air stock traded down $0.10 during midday trading on Tuesday, reaching $30.32. 2,664,156 shares of the company were exchanged, compared to its average volume of 1,401,829. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 11.15 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The firm’s 50-day simple moving average is $33.83 and its 200-day simple moving average is $34.84. Sealed Air Co. has a 1 year low of $29.83 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is 44.20%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley dropped 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 report on Monday, January 13th. Bank of America decreased their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research note on Tuesday, March 4th. Six investment 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 company has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Hedge Funds Weigh In On Sealed Air

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sealed Air during the 4th quarter valued at about $27,000. Manchester Capital Management LLC raised its position in shares of Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after buying an additional 700 shares during the period. GAMMA Investing LLC grew its position in Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 907 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sealed Air in the 4th quarter worth about $45,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 913 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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.