ING Groep NV Buys New Shares in Sealed Air Co. (NYSE:SEE)

ING Groep NV purchased a new position in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 96,700 shares of the industrial products company’s stock, valued at approximately $3,510,000.

Several other institutional investors also recently modified their holdings of SEE. Family Firm Inc. bought a new stake in shares of Sealed Air during the 2nd quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air in the 2nd quarter valued at $34,000. Allspring Global Investments Holdings LLC purchased a new position in Sealed Air in the 1st quarter worth about $52,000. Covestor Ltd increased its position in shares of Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Royal Bank of Canada decreased their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Truist Financial dropped their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Morgan Stanley started coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Up 0.6 %

Shares of SEE stock opened at $35.86 on Friday. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 4.93 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock’s 50 day simple moving average is $35.48 and its 200 day simple moving average is $35.85. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. As a group, research analysts predict that Sealed Air Co. will post 3.07 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Sealed Air’s payout ratio is presently 29.41%.

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.