Manning & Napier Advisors LLC grew its holdings in Sealed Air Corporation (NYSE:SEE – Free Report) by 200.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,000 shares of the industrial products company’s stock after buying an additional 40,000 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Sealed Air were worth $1,734,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 913 shares during the last quarter. A&I Financial Services LLC acquired a new position in shares of Sealed Air during the fourth quarter worth approximately $527,000. Amundi grew its stake in shares of Sealed Air by 131.6% during the fourth 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. increased its holdings in shares of Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company’s stock valued at $51,101,000 after purchasing an additional 715,668 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Sealed Air by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after purchasing an additional 32,976 shares during the last quarter. 94.40% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on SEE shares. Wall Street Zen raised Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Raymond James Financial cut their price target on Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 22nd. Mizuho lowered their price objective on Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group set a $36.00 price objective on Sealed Air in a report on Tuesday, March 4th. Finally, Truist Financial cut their target price on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and an average target price of $38.00.
Sealed Air Trading Up 1.6%
NYSE:SEE opened at $30.78 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 5.26. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.77 and a beta of 1.37. The business’s 50-day moving average price is $30.29 and its two-hundred day moving average price is $31.63.
Sealed Air (NYSE:SEE – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business posted $0.78 EPS. Sealed Air’s revenue was down 4.4% on a year-over-year basis. On average, equities analysts expect that Sealed Air Corporation will post 3.05 earnings per share for the current year.
Sealed Air Announces Dividend
The company also recently declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.60%. Sealed Air’s dividend payout ratio is 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.
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