Burney Co. Buys 5,228 Shares of Sealed Air Co. (NYSE:SEE)

Burney Co. increased its stake in shares of Sealed Air Co. (NYSE:SEE) by 39.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,469 shares of the industrial products company’s stock after buying an additional 5,228 shares during the quarter. Burney Co.’s holdings in Sealed Air were worth $687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Isthmus Partners LLC lifted its position in Sealed Air by 4.6% during the first quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 322 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Sealed Air by 4.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 342 shares in the last quarter. Acuitas Investments LLC lifted its stake in Sealed Air by 30.8% during the fourth quarter. Acuitas Investments LLC now owns 1,700 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 400 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Sealed Air by 43.2% in the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 462 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Sealed Air by 36.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 598 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Trading Down 2.9 %

Shares of NYSE:SEE traded down $1.08 during trading on Friday, reaching $36.35. The stock had a trading volume of 1,100,066 shares, compared to its average volume of 1,201,940. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 4.58 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $45.60. The firm’s fifty day moving average is $36.61 and its 200 day moving average is $35.76.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Sealed Air Co. will post 2.86 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Sealed Air’s dividend payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Mizuho upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and raised their target price for the company from $36.00 to $50.00 in a research report on Thursday, June 6th. StockNews.com downgraded shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. UBS Group cut their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price on shares of Sealed Air in a report on Monday, June 17th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.33.

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.