CX Institutional Invests $52,000 in Sealed Air Corporation (NYSE:SEE)

CX Institutional acquired a new stake in Sealed Air Corporation (NYSE:SEE) in the first quarter, Holdings Channel reports. The fund acquired 1,815 shares of the industrial products company’s stock, valued at approximately $52,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 913 shares in the last quarter. A&I Financial Services LLC bought a new stake in Sealed Air during the fourth quarter worth $527,000. Amundi increased its stake in shares of Sealed Air by 131.6% in the 4th quarter. Amundi now owns 76,479 shares of the industrial products company’s stock valued at $2,576,000 after purchasing an additional 43,458 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sealed Air by 90.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company’s stock worth $51,101,000 after buying an additional 715,668 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Sealed Air by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after acquiring an additional 32,976 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SEE has been the subject of a number of research reports. Raymond James Financial dropped their target price on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Wall Street Zen upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Truist Financial dropped their price target on Sealed Air from $44.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Sealed Air Stock Performance

NYSE SEE opened at $30.87 on Wednesday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 2.86 and a beta of 1.37. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $38.85. The stock has a fifty day simple moving average of $29.95 and a 200 day simple moving average of $31.84.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, June 13th. Sealed Air’s dividend payout ratio (DPR) is presently 39.60%.

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.