Sealed Air Corp (NYSE:SEE) Sees Significant Increase in Short Interest

Sealed Air Corp (NYSE:SEE) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 8,903,000 shares, an increase of 6.3% from the April 30th total of 8,378,000 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 6.7 days.

In other Sealed Air news, CEO Edward L. Doheny II acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $45.00 per share, for a total transaction of $225,000.00. Following the purchase, the chief executive officer now owns 167,246 shares in the company, valued at approximately $7,526,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kwmg LLC raised its stake in Sealed Air by 4.5% in the second quarter. Kwmg LLC now owns 58,597 shares of the industrial products company’s stock valued at $2,507,000 after purchasing an additional 2,512 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Sealed Air in the second quarter valued at about $1,061,000. Contravisory Investment Management Inc. raised its stake in Sealed Air by 11,926.7% in the second quarter. Contravisory Investment Management Inc. now owns 7,216 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 7,156 shares in the last quarter. WINTON GROUP Ltd raised its stake in Sealed Air by 15.0% in the second quarter. WINTON GROUP Ltd now owns 466,224 shares of the industrial products company’s stock valued at $19,945,000 after purchasing an additional 60,924 shares in the last quarter. Finally, FMR LLC raised its stake in Sealed Air by 3.1% in the first quarter. FMR LLC now owns 88,646 shares of the industrial products company’s stock valued at $4,083,000 after purchasing an additional 2,697 shares in the last quarter. Institutional investors own 98.26% of the company’s stock.

Several research firms have recently weighed in on SEE. Morgan Stanley set a $60.00 target price on shares of Berry Global Group and gave the stock a “hold” rating in a report on Wednesday, April 17th. Bank of America set a $300.00 target price on shares of IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, June 21st. Finally, Zacks Investment Research lowered shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.07.

SEE stock traded up $0.33 during mid-day trading on Friday, hitting $43.55. 867,262 shares of the company were exchanged, compared to its average volume of 1,164,724. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.82 and a beta of 1.12. The business has a 50 day simple moving average of $43.13. Sealed Air has a 1-year low of $30.22 and a 1-year high of $47.13.

Sealed Air (NYSE:SEE) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company posted $0.51 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Sealed Air will post 2.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.47%. Sealed Air’s dividend payout ratio (DPR) is presently 25.60%.

About Sealed Air

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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