Point72 Hong Kong Ltd Increases Stock Position in Sealed Air Co. (NYSE:SEE)

Point72 Hong Kong Ltd boosted its stake in Sealed Air Co. (NYSE:SEE) by 2,222.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,028 shares of the industrial products company’s stock after acquiring an additional 11,510 shares during the period. Point72 Hong Kong Ltd’s holdings in Sealed Air were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEE. Corient Private Wealth LLC lifted its position in Sealed Air by 46.9% in the fourth quarter. Corient Private Wealth LLC now owns 26,177 shares of the industrial products company’s stock valued at $956,000 after acquiring an additional 8,357 shares during the last quarter. Commerce Bank lifted its position in Sealed Air by 42.8% in the fourth quarter. Commerce Bank now owns 23,721 shares of the industrial products company’s stock valued at $866,000 after acquiring an additional 7,106 shares during the last quarter. Advisory Services Network LLC lifted its position in Sealed Air by 21.4% in the fourth quarter. Advisory Services Network LLC now owns 8,691 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 1,534 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in Sealed Air by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 63,763 shares of the industrial products company’s stock valued at $2,329,000 after acquiring an additional 620 shares during the last quarter. Finally, Isthmus Partners LLC purchased a new stake in Sealed Air in the fourth quarter valued at $258,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Up 4.2 %

NYSE SEE opened at $36.61 on Friday. The stock has a market capitalization of $5.33 billion, a P/E ratio of 14.70, a P/E/G ratio of 8.96 and a beta of 1.34. Sealed Air Co. has a 52-week low of $28.50 and a 52-week high of $41.14. The firm has a 50-day moving average price of $34.81 and a 200 day moving average price of $35.40. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81.

Sealed Air (NYSE:SEE) last posted its quarterly 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 net margin of 6.64% and a return on equity of 85.65%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts expect that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.19%. Sealed Air’s payout ratio is currently 32.13%.

Wall Street Analysts Forecast Growth

SEE has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on shares of Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 target price for the company. Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $50.00 in a report on Thursday, June 6th. Wells Fargo & Company upped their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $43.00 to $40.00 in a report on Friday, July 19th. Finally, Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $35.00 in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.30.

About Sealed Air

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.