Raymond James Financial Services Advisors Inc. Raises Stake in Sealed Air Co. (NYSE:SEE)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Sealed Air Co. (NYSE:SEE) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,824 shares of the industrial products company’s stock after purchasing an additional 342 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sealed Air were worth $286,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dark Forest Capital Management LP purchased a new stake in shares of Sealed Air during the 3rd quarter worth about $895,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Sealed Air by 66.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock worth $8,218,000 after purchasing an additional 99,700 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sealed Air by 45.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock worth $17,348,000 after acquiring an additional 165,694 shares during the period. Vanguard Group Inc. boosted its holdings in Sealed Air by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after acquiring an additional 92,114 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Sealed Air by 23.1% in the 3rd quarter. Deutsche Bank AG now owns 566,020 shares of the industrial products company’s stock worth $18,599,000 after acquiring an additional 106,144 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

Shares of SEE opened at $31.66 on Tuesday. 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 firm has a market cap of $4.61 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 2.64 and a beta of 1.28. Sealed Air Co. has a 52-week low of $28.50 and a 52-week high of $48.44. The business’s 50 day moving average is $35.00 and its two-hundred day moving average is $34.29.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. Analysts forecast that Sealed Air Co. will post 2.83 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, March 7th. Sealed Air’s dividend payout ratio is currently 33.90%.

Wall Street Analyst Weigh In

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