Sealed Air Co. (NYSE:SEE) Short Interest Update

Sealed Air Co. (NYSE:SEE) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 7,980,000 shares, an increase of 31.0% from the February 28th total of 6,090,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately 5.6% of the company’s stock are short sold.

Sealed Air Price Performance

Shares of NYSE:SEE traded down $0.11 during trading on Monday, reaching $28.90. 1,041,512 shares of the company’s stock traded hands, compared to its average volume of 1,492,984. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air has a fifty-two week low of $28.39 and a fifty-two week high of $41.14. The company has a 50-day simple moving average of $32.53 and a 200-day simple moving average of $34.36. The firm has a market cap of $4.21 billion, a PE ratio of 10.62 and a beta of 1.32.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, analysts predict that Sealed Air will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, March 14th. Sealed Air’s payout ratio is presently 44.20%.

Analyst Upgrades and Downgrades

SEE has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research note on Tuesday, March 4th. Truist Financial upped their target price on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America lowered their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group increased their price objective on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Finally, Citigroup dropped their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sealed Air has an average rating of “Moderate Buy” and an average target price of $40.25.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased 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 in the company, valued at $1,050,000. The trade was a 3.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sealed Air

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 311 shares during the last quarter. Arizona State Retirement System increased its stake in Sealed Air by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock worth $1,430,000 after buying an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of Sealed Air by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company’s stock valued at $1,470,000 after acquiring an additional 350 shares during the last quarter. Choreo LLC lifted its position in shares of Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 351 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Sealed Air by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 375 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

About Sealed Air

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.