Bank of Montreal Can Has $9.41 Million Stake in Sealed Air Co. (NYSE:SEE)

Bank of Montreal Can raised its position in Sealed Air Co. (NYSE:SEE) by 175.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,641 shares of the industrial products company’s stock after acquiring an additional 163,493 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of Sealed Air worth $9,411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SEE. Pacer Advisors Inc. acquired a new stake in Sealed Air in the 3rd quarter valued at about $139,800,000. Swedbank AB acquired a new stake in shares of Sealed Air in the third quarter valued at approximately $53,681,000. Millennium Management LLC boosted its stake in shares of Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares during the period. Appian Way Asset Management LP increased its holdings in shares of Sealed Air by 68.1% during the 2nd quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock worth $46,962,000 after acquiring an additional 546,701 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Sealed Air by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after acquiring an additional 502,999 shares during the period. Institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company increased their target price on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Royal Bank of Canada reduced their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Finally, Truist Financial lowered their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Performance

NYSE SEE opened at $36.60 on Monday. The firm’s 50 day simple moving average is $35.84 and its 200 day simple moving average is $35.81. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 5.06 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.77 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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 $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is currently 29.41%.

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.