ClearAlpha Technologies LP Invests $255,000 in Sealed Air Co. (NYSE:SEE)

ClearAlpha Technologies LP acquired a new stake in Sealed Air Co. (NYSE:SEE) in the third quarter, Holdings Channel reports. The firm acquired 7,023 shares of the industrial products company’s stock, valued at approximately $255,000.

A number of other institutional investors have also recently made changes to their positions in the business. Paloma Partners Management Co purchased a new position in Sealed Air in the 3rd quarter valued at approximately $709,000. Appian Way Asset Management LP boosted its holdings in Sealed Air by 5.7% in the third quarter. Appian Way Asset Management LP now owns 1,426,247 shares of the industrial products company’s stock valued at $51,773,000 after purchasing an additional 76,390 shares during the period. Captrust Financial Advisors grew its stake in Sealed Air by 21.1% during the 3rd quarter. Captrust Financial Advisors now owns 19,557 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 3,411 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sealed Air by 8.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,089 shares of the industrial products company’s stock worth $1,165,000 after purchasing an additional 2,558 shares during the period. Finally, FORA Capital LLC acquired a new stake in Sealed Air in the 3rd quarter valued at about $376,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Performance

Shares of SEE opened at $36.61 on Tuesday. The company’s 50 day simple moving average is $35.84 and its 200-day simple moving average is $35.79. The firm has a market cap of $5.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. 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 (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts predict that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is currently 29.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SEE shares. JPMorgan Chase & Co. lowered their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company increased their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Truist Financial decreased their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Morgan Stanley began coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price on the stock. Finally, Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.