Panagora Asset Management Inc. raised its position in Sealed Air Co. (NYSE:SEE) by 29.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,155 shares of the industrial products company’s stock after buying an additional 11,541 shares during the quarter. Panagora Asset Management Inc.’s holdings in Sealed Air were worth $2,972,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Virtu Financial LLC grew its position in Sealed Air by 4.0% during the first quarter. Virtu Financial LLC now owns 5,225 shares of the industrial products company’s stock worth $239,000 after buying an additional 203 shares in the last quarter. Norinchukin Bank The grew its position in Sealed Air by 1.7% during the first quarter. Norinchukin Bank The now owns 12,908 shares of the industrial products company’s stock worth $591,000 after buying an additional 210 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Sealed Air by 1.9% in the 1st quarter. CIBC Asset Management Inc now owns 13,317 shares of the industrial products company’s stock worth $610,000 after purchasing an additional 250 shares in the last quarter. Sowell Financial Services LLC boosted its holdings in shares of Sealed Air by 5.2% in the 1st quarter. Sowell Financial Services LLC now owns 5,341 shares of the industrial products company’s stock worth $303,000 after purchasing an additional 263 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Sealed Air by 11.5% in the 1st quarter. Bessemer Group Inc. now owns 3,237 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.
A number of research firms have recently issued reports on SEE. Morgan Stanley upped their price objective on Sealed Air from $52.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Truist began coverage on Sealed Air in a report on Monday, September 13th. They issued a “buy” rating and a $72.00 price objective for the company. Zacks Investment Research cut Sealed Air from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a report on Monday, September 6th. Truist Securities initiated coverage on Sealed Air in a research note on Tuesday, September 14th. They issued a “buy” rating and a $72.00 target price for the company. Finally, William Blair initiated coverage on Sealed Air in a research note on Monday, August 23rd. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $60.71.
Sealed Air (NYSE:SEE) last announced its earnings results on Monday, August 2nd. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. Sealed Air had a return on equity of 519.84% and a net margin of 9.56%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Sealed Air Co. will post 3.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, September 2nd. Sealed Air’s dividend payout ratio is currently 25.08%.
Sealed Air Profile
Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.
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