Sealed Air Co. (NYSE:SEE) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,959 shares of the industrial products company’s stock after purchasing an additional 13,410 shares during the quarter. Wellington Management Group LLP’s holdings in Sealed Air were worth $6,315,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its position in Sealed Air by 19.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,494 shares of the industrial products company’s stock valued at $574,000 after buying an additional 2,668 shares during the period. Louisiana State Employees Retirement System grew its stake in Sealed Air by 2.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 73,300 shares of the industrial products company’s stock worth $2,550,000 after purchasing an additional 1,800 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Sealed Air by 5.8% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 18,970 shares of the industrial products company’s stock worth $660,000 after purchasing an additional 1,040 shares during the period. Family Firm Inc. acquired a new stake in Sealed Air in the 2nd quarter valued at about $26,000. Finally, Easterly Investment Partners LLC purchased a new position in shares of Sealed Air in the 2nd quarter valued at about $7,926,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Truist Financial lowered their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Trading Down 0.4 %

SEE opened at $35.83 on Tuesday. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The business’s 50 day moving average is $36.01 and its two-hundred day moving average is $35.69. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Sealed Air’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts predict that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is presently 29.41%.

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.