Sealed Air Co. (NYSE:SEE) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its position in Sealed Air Co. (NYSE:SEE) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,199 shares of the industrial products company’s stock after buying an additional 788 shares during the period. Commonwealth Equity Services LLC’s holdings in Sealed Air were worth $564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SEE. Principal Securities Inc. purchased a new position in shares of Sealed Air during the 4th quarter worth $61,000. Dimensional Fund Advisors LP increased its stake in Sealed Air by 11.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,350,129 shares of the industrial products company’s stock valued at $49,310,000 after purchasing an additional 138,197 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Sealed Air by 76.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,891 shares of the industrial products company’s stock worth $471,000 after buying an additional 5,569 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Sealed Air by 36.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock worth $81,000 after buying an additional 598 shares during the last quarter. Finally, Norges Bank acquired a new stake in Sealed Air in the 4th quarter worth about $52,968,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 1.4 %

NYSE:SEE opened at $35.09 on Friday. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $41.14. The business’s 50-day moving average is $34.88 and its two-hundred day moving average is $35.39. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $5.11 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 8.59 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.64 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Research analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s payout ratio is 32.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SEE shares. Wells Fargo & Company raised their target price on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $44.00 price target on shares of Sealed Air in a report on Monday, June 17th. 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 objective for the company. Stifel Nicolaus initiated coverage on Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sealed Air presently has a consensus rating of “Hold” and an average target price 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.