Deprince Race & Zollo Inc. Has $64.57 Million Stock Position in Sealed Air Co. (NYSE:SEE)

Deprince Race & Zollo Inc. grew its position in shares of Sealed Air Co. (NYSE:SEE) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,856,020 shares of the industrial products company’s stock after buying an additional 24,940 shares during the quarter. Sealed Air accounts for approximately 1.4% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 7th biggest holding. Deprince Race & Zollo Inc.’s holdings in Sealed Air were worth $64,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Family Firm Inc. bought a new stake in Sealed Air during the second quarter worth $26,000. Fidelis Capital Partners LLC purchased a new stake in Sealed Air during the first quarter worth about $31,000. Allspring Global Investments Holdings LLC bought a new stake in Sealed Air in the first quarter worth about $52,000. Covestor Ltd boosted its stake in Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sealed Air during the 2nd quarter valued at approximately $105,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 1.3 %

Shares of Sealed Air stock opened at $35.14 on Thursday. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market cap of $5.12 billion, a PE ratio of 14.11, a PEG ratio of 8.96 and a beta of 1.34. The company has a 50 day simple moving average of $34.80 and a two-hundred day simple moving average of $35.39.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. Sealed Air’s dividend payout ratio is presently 32.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Truist Financial reiterated a “buy” rating and set a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. Citigroup lowered their price objective on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.30.

Sealed Air 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.