Sealed Air Co. (NYSE:SEE) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Sealed Air Co. (NYSE:SEE) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,230 shares of the industrial products company’s stock after purchasing an additional 27,554 shares during the period. Envestnet Asset Management Inc. owned approximately 0.38% of Sealed Air worth $19,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. purchased a new stake in shares of Sealed Air in the 4th quarter valued at $86,410,000. Norges Bank purchased a new stake in Sealed Air during the fourth quarter worth about $52,968,000. Appian Way Asset Management LP acquired a new stake in shares of Sealed Air during the first quarter worth about $29,877,000. Vanguard Group Inc. boosted its stake in shares of Sealed Air by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after purchasing an additional 600,146 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Sealed Air by 83.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,731 shares of the industrial products company’s stock valued at $37,861,000 after purchasing an additional 471,289 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Citigroup reduced their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Truist Financial reissued a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. Finally, Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $43.00 to $40.00 in a report on Friday, July 19th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.30.

Sealed Air Stock Up 0.9 %

Shares of NYSE:SEE opened at $35.41 on Tuesday. The firm has a 50 day simple moving average of $34.86 and a 200-day simple moving average of $35.39. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $41.14. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The company has a market capitalization of $5.16 billion, a PE ratio of 14.22, a P/E/G ratio of 8.59 and a beta of 1.34.

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

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio is currently 32.13%.

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.