SEE

Sealed Air Corp.

Industrial/Transportation


Presented:09/03/2024
Price:$35.13
Cap:$5.12B
Current Price:$34.99
Cap:$5.10B

Presented

Date09/03/2024
Price$35.13
Market Cap$5.12B
Ent Value$9.41B
P/E Ratio14.04x
Book Value$4.46
Div Yield2.28%
Shares O/S145.67M
Ave Daily Vol1,459,721
Short Int4.28%

Current

Price$34.99
Market Cap$5.10B
Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets. The Protective segment offers packaging solutions that are utilized across global markets and are valuable to e-Commerce, consumer goods, pharmaceutical and medical devices, and industrial manufacturing. The company was founded by Alfred W. Fielding and Marc Chavannes in 1960 and is headquartered in Charlotte, NC.

Publicly traded companies mentioned herein: Amcor PLC (AMCR), Sealed Air Corp (SEE), Winpak (WPK CN)

Highlights

The presenter is long shares of Sealed Air Corp (SEE), as he believes that the company trades at a trough valuation on trough estimates and that major headwinds are now in the past. Looking ahead, chicken and beef prices are expected to rise in 2025 and 2026 and there is potential upside if the company decides to sell its Protective business. The presenter assigns a 6.5x EBITDA multiple to the Protective segment and a 12x EBITDA multiple to the Food segment, resulting in a price target of $49 per share.

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Idea Discussion

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