Sealed Air Corp (NYSE:SEE) – KeyCorp lifted their FY2019 earnings per share (EPS) estimates for shares of Sealed Air in a report released on Wednesday, November 6th. KeyCorp analyst A. Josephson now anticipates that the industrial products company will post earnings of $2.78 per share for the year, up from their prior forecast of $2.76. KeyCorp has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Sealed Air’s Q4 2019 earnings at $0.74 EPS.
Sealed Air (NYSE:SEE) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. Sealed Air’s revenue was up 2.7% on a year-over-year basis.
Shares of NYSE:SEE opened at $38.82 on Friday. Sealed Air has a fifty-two week low of $32.33 and a fifty-two week high of $47.13. The business has a 50-day simple moving average of $41.08 and a two-hundred day simple moving average of $42.50. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEE. Oppenheimer Asset Management Inc. increased its holdings in Sealed Air by 3.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,135 shares of the industrial products company’s stock worth $733,000 after acquiring an additional 518 shares in the last quarter. Bbva USA Bancshares Inc. increased its holdings in Sealed Air by 10.7% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,839 shares of the industrial products company’s stock worth $805,000 after acquiring an additional 1,824 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Sealed Air by 141.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,160 shares of the industrial products company’s stock worth $1,718,000 after acquiring an additional 23,497 shares in the last quarter. Chicago Equity Partners LLC bought a new position in Sealed Air in the 3rd quarter worth approximately $1,919,000. Finally, CWM Advisors LLC boosted its stake in Sealed Air by 19.8% in the 2nd quarter. CWM Advisors LLC now owns 11,986 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 1,982 shares during the period. 96.56% of the stock is owned by hedge funds and other institutional investors.
In other Sealed Air news, CFO James M. Sullivan purchased 5,000 shares of Sealed Air stock in a transaction dated Thursday, November 7th. The stock was purchased at an average price of $38.75 per share, with a total value of $193,750.00. Following the transaction, the chief financial officer now directly owns 17,028 shares of the company’s stock, valued at $659,835. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 5th. Sealed Air’s payout ratio is currently 25.60%.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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