SEE
Sealed Air Corporation
Consumer, Industrial/Transportation
10/13/2014
Presented
| Date | 10/06/2014 |
| Price | $32.56 |
| Market Cap | $6.90B |
| Ent Value | $11.32B |
| P/E Ratio | 39.06x |
| Book Value | $5.52 |
| Div Yield | 1.1% |
| Shares O/S | 212.02M |
| Ave Daily Vol | 1,650,000 |
| Short Int | 2.82% |
Current
| Price | $34.99 |
| Market Cap | $5.10B |
| Sealed Air Corporation, through its subsidiaries, provides food safety and security, facility hygiene, and product protection solutions worldwide. The company operates through three segments: Food Care, Diversey Care, and Product Care. The Food Care segment provides integrated system solutions that incorporate equipment systems integrated into customers’ operations; consumables; and packaging equipment systems that incorporate options for loading, filling, dispensing, and retort and aseptic processing conditions. It also offers graphic design, printing, training, field quality assurance, and remote diagnostics services; and facility hygiene solutions, such as clean-in-place and open plant systems that integrate cleaning chemicals, lubricants, floor care equipment, and cleaning tools. This segment markets its solutions under the Cryovac, Diversey, Cryovac Grip & Tear, Cryovac Mirabella, Simple Steps, and Secure Check brand names to perishable food and beverage processors. The Diversey Care segment offers Diversey-branded solutions comprises integrated lines of products and dispensing systems for hard surface cleaning, disinfecting and sanitizing, hand washing, deodorizing, ware washing, hard surface and carpeted floor cleaning systems, cleaning tools and utensils, and fabric care for professional laundry applications. The Product Care segment provides various product care solutions to meet cushioning, void fill, positioning/block-and-bracing, surface protection, retail display, containment, and dunnage needs under the Bubble Wrap and Air Cap, Cryovac, Shanklin, Instapak, Jiffy, and Korrvu brands names directly, as well as through business supply distribution to fabricators, OEMs/contract manufacturers, e-commerce/fulfillment operations, and retail centers. It serves food and beverage processing, food service, retail, health care and industrial, commercial, and consumer markets. The company was founded in 1960 and is headquartered in Elmwood Park, New Jersey. |
Publicly traded companies mentioned herein: Sealed Air Corp (SEE), W.R. Grace (GRA) and Sherwin-Williams (SHW)
Highlights
Sealed Air is a global leader in protective and food packaging, but the company’s levered acquisition of Diversey - pitched at the time as a poor man’s Ecolab - did not go as well as planned. Likewise, the company’s previous acquisition of Cryovac (food packaging) resulted in some liabilities from W.R. Grace (GRA). Those issues have mostly been resolved, however, with Grace expected to sell its remaining SEE shares from the deal in the near future, but the presenter believes the turnaround currently underway at the company continues to fly under most investors’ radar.
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