Sealed Air Co. (NYSE:SEE) Stake Boosted by Burney Co.

Burney Co. increased its stake in shares of Sealed Air Co. (NYSE:SEE) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,747 shares of the industrial products company’s stock after buying an additional 1,278 shares during the quarter. Burney Co.’s holdings in Sealed Air were worth $687,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of Sealed Air by 6,254.6% in the fourth quarter. International Assets Investment Management LLC now owns 106,821 shares of the industrial products company’s stock valued at $3,901,000 after purchasing an additional 105,140 shares during the period. Signaturefd LLC grew its stake in shares of Sealed Air by 43.2% in the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 462 shares in the last quarter. CWM LLC increased its holdings in shares of Sealed Air by 27.6% during the fourth quarter. CWM LLC now owns 5,402 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 1,168 shares during the period. California Public Employees Retirement System lifted its holdings in Sealed Air by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 274,109 shares of the industrial products company’s stock worth $10,010,000 after purchasing an additional 3,370 shares during the period. Finally, Victory Capital Management Inc. grew its position in Sealed Air by 2.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,251,246 shares of the industrial products company’s stock valued at $45,696,000 after buying an additional 33,362 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price target for the company. Wells Fargo & Company lifted their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered Sealed Air from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $43.00 to $40.00 in a report on Friday, July 19th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, UBS Group reduced their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and a consensus target price of $42.10.

Sealed Air Stock Performance

NYSE:SEE traded up $0.16 during midday trading on Thursday, reaching $34.59. The stock had a trading volume of 1,099,674 shares, compared to its average volume of 1,538,499. The stock has a market capitalization of $5.04 billion, a P/E ratio of 13.75, a PEG ratio of 8.43 and a beta of 1.35. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $41.14. The firm’s fifty day simple moving average is $35.13 and its 200-day simple moving average is $35.57.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Sealed Air Co. will post 2.91 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.31%. Sealed Air’s dividend payout ratio is currently 32.13%.

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.