Glenmede Trust Co. NA Invests $321,000 in Sealed Air Co. (NYSE:SEE)

Glenmede Trust Co. NA acquired a new position in shares of Sealed Air Co. (NYSE:SEE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,831 shares of the industrial products company’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. purchased a new stake in Sealed Air in the second quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Sealed Air in the second quarter worth approximately $34,000. Allspring Global Investments Holdings LLC boosted its stake in Sealed Air by 100.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after buying an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after buying an additional 2,445 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sealed Air in the second quarter worth approximately $105,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $37.30 on Thursday. 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 company has a market cap of $5.43 billion, a PE ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. The business has a 50 day moving average of $35.88 and a 200 day moving average of $35.76. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last announced 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. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, equities research analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

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 issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.14%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

Analyst Ratings Changes

SEE has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. 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 research note on Thursday, October 17th. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Truist Financial dropped their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, StockNews.com lowered Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

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.