Dark Forest Capital Management LP Makes New $551,000 Investment in Sealed Air Co. (NYSE:SEE)

Dark Forest Capital Management LP bought a new position in Sealed Air Co. (NYSE:SEE) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 15,835 shares of the industrial products company’s stock, valued at approximately $551,000.

Other institutional investors have also bought and sold shares of the company. Invenomic Capital Management LP purchased a new position in Sealed Air in the 4th quarter worth approximately $6,834,000. State Board of Administration of Florida Retirement System raised its position in shares of Sealed Air by 9.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock valued at $6,750,000 after buying an additional 15,710 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sealed Air during the 1st quarter valued at approximately $582,000. Point72 Europe London LLP purchased a new stake in shares of Sealed Air during the 4th quarter valued at approximately $852,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Sealed Air by 10.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company’s stock valued at $5,828,000 after buying an additional 15,174 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SEE. Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $50.00 in a research report on Thursday, June 6th. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target on shares of Sealed Air in a research report on Monday, June 17th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Wells Fargo & Company boosted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada lowered Sealed Air from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.30.

Sealed Air Stock Performance

NYSE:SEE opened at $36.67 on Friday. The company has a fifty day simple moving average of $34.83 and a two-hundred day simple moving average of $35.39. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 9.01 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last posted 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts anticipate that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

Sealed Air 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.