Brandes Investment Partners LP Increases Holdings in Sealed Air Co. (NYSE:SEE)

Brandes Investment Partners LP increased its position in Sealed Air Co. (NYSE:SEE) by 2,050.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,264 shares of the industrial products company’s stock after buying an additional 261,512 shares during the quarter. Brandes Investment Partners LP owned 0.19% of Sealed Air worth $9,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SEE. Quarry LP boosted its position in Sealed Air by 230.1% during the second quarter. Quarry LP now owns 3,390 shares of the industrial products company’s stock valued at $118,000 after buying an additional 2,363 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 2,445 shares during the period. Algert Global LLC grew its position in Sealed Air by 300.5% during the 2nd quarter. Algert Global LLC now owns 87,079 shares of the industrial products company’s stock worth $3,029,000 after acquiring an additional 65,337 shares during the last quarter. Scientech Research LLC purchased a new position in Sealed Air in the 2nd quarter worth approximately $210,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Sealed Air in the 2nd quarter worth approximately $2,559,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

Shares of SEE stock opened at $36.29 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 9.01 and a beta of 1.34. The business’s fifty day moving average is $34.84 and its 200 day moving average is $35.37. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last issued 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. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. Sealed Air’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. Research analysts expect that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SEE shares. 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 on the stock. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. Wells Fargo & Company boosted their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, UBS Group dropped their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $41.30.

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.