Stonegate Investment Group LLC Takes Position in Sealed Air Co. (NYSE:SEE)

Stonegate Investment Group LLC bought a new position in shares of Sealed Air Co. (NYSE:SEE) in the third quarter, Holdings Channel.com reports. The fund bought 5,836 shares of the industrial products company’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SEE. Isthmus Partners LLC grew its holdings in Sealed Air by 4.6% during the 1st quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 322 shares during the period. United Services Automobile Association boosted its position in shares of Sealed Air by 3.5% during the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC grew its stake in Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 467 shares during the period. Sendero Wealth Management LLC increased its holdings in Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 550 shares in the last quarter. Finally, MADDEN SECURITIES Corp lifted its stake in Sealed Air by 9.1% in the second quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock valued at $251,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SEE shares. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus began coverage on shares of Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective on the stock. Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday. Truist Financial dropped their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, UBS Group reduced their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Up 1.2 %

SEE stock opened at $37.12 on Friday. The stock’s 50 day moving average is $34.64 and its 200-day moving average is $35.31. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $41.14. The firm has a market capitalization of $5.41 billion, a PE ratio of 14.91, a P/E/G ratio of 8.98 and a beta of 1.34. 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 issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Sell-side analysts expect that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.16%. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

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.