Everence Capital Management Inc. Boosts Stake in Sealed Air Co. (NYSE:SEE)

Everence Capital Management Inc. raised its position in shares of Sealed Air Co. (NYSE:SEE) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,940 shares of the industrial products company’s stock after acquiring an additional 380 shares during the period. Everence Capital Management Inc.’s holdings in Sealed Air were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SEE. OmniStar Financial Group Inc. acquired a new position in shares of Sealed Air during the third quarter worth about $731,000. Stonegate Investment Group LLC acquired a new position in shares of Sealed Air during the third quarter worth about $212,000. Cardinal Capital Management lifted its stake in shares of Sealed Air by 13.1% during the third quarter. Cardinal Capital Management now owns 39,336 shares of the industrial products company’s stock worth $1,428,000 after purchasing an additional 4,558 shares in the last quarter. Swedbank AB acquired a new position in shares of Sealed Air during the third quarter worth about $53,681,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Sealed Air by 9.0% during the third quarter. Sound Income Strategies LLC now owns 69,795 shares of the industrial products company’s stock worth $2,534,000 after purchasing an additional 5,785 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of recent research reports. Truist Financial reduced their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Citigroup cut their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. Wells Fargo & Company boosted their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and cut their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sealed Air has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Down 2.0 %

Shares of Sealed Air stock opened at $36.38 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The firm has a market cap of $5.30 billion, a P/E ratio of 14.67, a P/E/G ratio of 9.39 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The business has a 50-day moving average price of $34.64 and a 200 day moving average price of $35.32.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion during 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%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. On average, sell-side analysts forecast that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

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.