Sealed Air (NYSE:SEE) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Sealed Air (NYSE:SEE) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $39.00 price target on the industrial products company’s stock.

A number of other brokerages have also weighed in on SEE. Jefferies Financial Group lowered Sealed Air from a buy rating to a hold rating and reduced their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. UBS Group decreased their price target on Sealed Air from $39.00 to $38.00 and set a neutral rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada downgraded shares of Sealed Air from an outperform rating to a sector perform rating and dropped their price objective for the company from $43.00 to $40.00 in a research note on Friday, July 19th. JPMorgan Chase & Co. decreased their target price on shares of Sealed Air from $35.00 to $33.00 and set a neutral rating on the stock in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Sealed Air from a hold rating to a buy rating in a research report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $41.82.

Sealed Air Trading Down 1.4 %

Sealed Air stock opened at $33.78 on Wednesday. The stock has a market cap of $4.92 billion, a PE ratio of 13.57, a P/E/G ratio of 8.68 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The stock has a 50-day moving average price of $34.98 and a 200 day moving average price of $35.49. Sealed Air has a 52 week low of $28.50 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. Equities research analysts predict that Sealed Air will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.37%. Sealed Air’s dividend payout ratio is currently 32.13%.

Institutional Investors Weigh In On Sealed Air

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in shares of Sealed Air during the 2nd quarter valued at about $660,000. Strategic Investment Solutions Inc. IL acquired a new stake in Sealed Air in the second quarter valued at approximately $34,000. Brandes Investment Partners LP raised its stake in shares of Sealed Air by 2,050.8% during the second quarter. Brandes Investment Partners LP now owns 274,264 shares of the industrial products company’s stock valued at $9,577,000 after purchasing an additional 261,512 shares during the period. Quarry LP lifted its position in shares of Sealed Air by 230.1% during the second quarter. Quarry LP now owns 3,390 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 2,363 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Sealed Air by 523.6% in the second 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. Hedge funds and other institutional investors own 94.40% of the company’s stock.

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.