Insider Buying: Sealed Air Corp (NYSE:SEE) Director Acquires 15,000 Shares of Stock

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Sealed Air Corp (NYSE:SEE) Director Patrick Duff acquired 15,000 shares of Sealed Air stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of $35.00 per share, with a total value of $525,000.00. Following the transaction, the director now owns 106,625 shares of the company’s stock, valued at approximately $3,731,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NYSE SEE opened at $34.77 on Friday. Sealed Air Corp has a fifty-two week low of $34.27 and a fifty-two week high of $47.13. The stock’s 50-day moving average is $37.81 and its two-hundred day moving average is $39.90. The firm has a market cap of $5.32 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 11th. The industrial products company reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.04. Sealed Air had a negative return on equity of 155.41% and a net margin of 5.49%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, analysts forecast that Sealed Air Corp will post 2.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.84%. Sealed Air’s dividend payout ratio (DPR) is currently 22.70%.

Several institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Sealed Air by 487.3% during the fourth quarter. Advisors Asset Management Inc. now owns 2,678 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 2,222 shares during the period. Cubist Systematic Strategies LLC increased its stake in Sealed Air by 88.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 86,395 shares of the industrial products company’s stock valued at $3,441,000 after acquiring an additional 40,522 shares during the period. AQR Capital Management LLC increased its stake in Sealed Air by 43.1% during the fourth quarter. AQR Capital Management LLC now owns 794,270 shares of the industrial products company’s stock valued at $31,477,000 after acquiring an additional 239,076 shares during the period. First Republic Investment Management Inc. increased its stake in Sealed Air by 42.8% during the fourth quarter. First Republic Investment Management Inc. now owns 14,418 shares of the industrial products company’s stock valued at $574,000 after acquiring an additional 4,319 shares during the period. Finally, Ellington Management Group LLC bought a new position in Sealed Air during the fourth quarter valued at about $539,000. Institutional investors and hedge funds own 94.01% of the company’s stock.

Several equities analysts have weighed in on SEE shares. KeyCorp restated a “hold” rating on shares of Sealed Air in a report on Tuesday. Cfra upgraded Sealed Air from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Wednesday. Wells Fargo & Co restated a “hold” rating on shares of Sealed Air in a report on Monday, December 9th. ValuEngine upgraded Sealed Air from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Bank of America upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Sealed Air presently has an average rating of “Hold” and a consensus price target of $43.50.

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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