Tidal Investments LLC boosted its stake in Sealed Air Co. (NYSE:SEE – Free Report) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,519 shares of the industrial products company’s stock after acquiring an additional 2,051 shares during the period. Tidal Investments LLC’s holdings in Sealed Air were worth $1,180,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in Sealed Air in the third quarter valued at approximately $139,800,000. Swedbank AB bought a new stake in shares of Sealed Air in the 3rd quarter worth approximately $53,681,000. Millennium Management LLC boosted its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Maple Rock Capital Partners Inc. grew its stake in Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after buying an additional 548,493 shares during the last quarter. Finally, Appian Way Asset Management LP grew its stake in Sealed Air by 68.1% during the 2nd quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock worth $46,962,000 after buying an additional 546,701 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
SEE has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada cut their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Thursday, October 17th. Morgan Stanley began coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.
Sealed Air Trading Down 1.0 %
Shares of NYSE:SEE opened at $33.97 on Friday. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $4.95 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The firm has a fifty day moving average of $36.01 and a two-hundred day moving average of $35.65.
Sealed Air (NYSE:SEE – Get Free Report) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Sealed Air Co. will post 3.06 EPS for the current fiscal year.
Sealed Air Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.
Sealed Air Company Profile
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.
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