Everence Capital Management Inc. Purchases Shares of 5,740 Sealed Air Co. (NYSE:SEE)

Everence Capital Management Inc. purchased a new stake in Sealed Air Co. (NYSE:SEE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,740 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently bought and sold shares of SEE. Compass Wealth Management LLC purchased a new stake in Sealed Air during the fourth quarter valued at about $25,000. CVA Family Office LLC purchased a new stake in shares of Sealed Air in the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Sealed Air in the fourth quarter worth approximately $29,000. Column Capital Advisors LLC lifted its position in shares of Sealed Air by 57.9% in the third quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 385 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Sealed Air by 80.3% in the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 476 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Up 0.1 %

Shares of SEE stock opened at $31.50 on Friday. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $48.44. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. The business’s 50 day moving average is $35.10 and its two-hundred day moving average is $34.25. The company has a market cap of $4.59 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 2.62 and a beta of 1.28.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Sealed Air’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that Sealed Air Co. will post 2.85 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. Sealed Air’s dividend payout ratio is 33.90%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho reduced their price target on shares of Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Wolfe Research started coverage on Sealed Air in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and increased their price objective for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.18.

Sealed Air Company 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.