Sealed Air Target of Unusually Large Options Trading (SEE)
Sealed Air Corp (NYSE:SEE) was the target of some unusual options trading activity on Thursday. Investors purchased 4,053 call options on the stock. This represents an increase of approximately 1,459% compared to the average volume of 260 call options.
NYSE:SEE opened at $34.35 on Friday. The stock has a market capitalization of $5.46 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. Sealed Air has a twelve month low of $30.22 and a twelve month high of $49.94.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. As a group, research analysts anticipate that Sealed Air will post 2.43 EPS for the current year.
SEE has been the topic of several research analyst reports. Citigroup dropped their target price on shares of Sealed Air from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 11th. UBS Group set a $45.00 target price on shares of Sealed Air and gave the company a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. ValuEngine downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Robert W. Baird decreased their price target on shares of Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Sealed Air has a consensus rating of “Hold” and an average price target of $45.00.
Several large investors have recently bought and sold shares of the company. Marshall Wace North America L.P. raised its stake in Sealed Air by 6.1% during the third quarter. Marshall Wace North America L.P. now owns 5,660,228 shares of the industrial products company’s stock worth $227,258,000 after purchasing an additional 326,156 shares during the period. Marshall Wace LLP raised its stake in Sealed Air by 456.5% during the third quarter. Marshall Wace LLP now owns 2,002,230 shares of the industrial products company’s stock worth $80,390,000 after purchasing an additional 1,642,467 shares during the period. Vanguard Group Inc. raised its stake in Sealed Air by 3.2% during the third quarter. Vanguard Group Inc. now owns 18,025,501 shares of the industrial products company’s stock worth $723,724,000 after purchasing an additional 558,305 shares during the period. Morgan Stanley raised its stake in Sealed Air by 6.5% during the third quarter. Morgan Stanley now owns 390,656 shares of the industrial products company’s stock worth $15,684,000 after purchasing an additional 23,837 shares during the period. Finally, Standard Life Aberdeen plc raised its stake in Sealed Air by 11.2% during the third quarter. Standard Life Aberdeen plc now owns 43,487 shares of the industrial products company’s stock worth $1,746,000 after purchasing an additional 4,396 shares during the period. 94.62% of the stock is currently owned by hedge funds and other institutional investors.
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About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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