Kiltearn Partners LLP Increases Stock Position in Sealed Air Co. (NYSE:SEE)

Kiltearn Partners LLP grew its position in shares of Sealed Air Co. (NYSE:SEE) by 35.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 531,000 shares of the industrial products company’s stock after purchasing an additional 139,100 shares during the period. Sealed Air makes up approximately 2.2% of Kiltearn Partners LLP’s investment portfolio, making the stock its 19th biggest position. Kiltearn Partners LLP’s holdings in Sealed Air were worth $18,473,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new position in Sealed Air during the fourth quarter valued at approximately $86,410,000. Norges Bank bought a new position in shares of Sealed Air during the 4th quarter valued at approximately $52,968,000. Appian Way Asset Management LP purchased a new position in shares of Sealed Air in the first quarter valued at $29,877,000. Vanguard Group Inc. increased its position in 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 worth $621,380,000 after purchasing an additional 600,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after purchasing an additional 479,675 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Trading Up 0.9 %

NYSE SEE opened at $35.41 on Tuesday. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $41.14. The company’s 50-day moving average price is $34.86 and its 200-day moving average price is $35.39. The stock has a market cap of $5.16 billion, a PE ratio of 14.22, a PEG ratio of 8.59 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81.

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

Sealed Air Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on SEE shares. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. Truist Financial restated a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. Wells Fargo & Company raised their price objective on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Citigroup cut their target price 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. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and lowered their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.