Horizon Kinetics Asset Management LLC Has $1.57 Million Position in Sealed Air Co. (NYSE:SEE)

Horizon Kinetics Asset Management LLC raised its stake in shares of Sealed Air Co. (NYSE:SEE) by 21.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,100 shares of the industrial products company’s stock after purchasing an additional 7,500 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Sealed Air were worth $1,565,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in Sealed Air in the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air in the second quarter valued at about $34,000. Allspring Global Investments Holdings LLC increased its stake in shares of Sealed Air by 100.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sealed Air during the 2nd quarter valued at approximately $105,000. Institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

SEE has been the topic of several recent analyst reports. Truist Financial dropped their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada cut their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, Morgan Stanley began coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Up 2.0 %

NYSE SEE opened at $36.61 on Tuesday. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 4.97 and a beta of 1.34. The stock’s 50 day moving average is $35.74 and its two-hundred day moving average is $35.85. 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 announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

Sealed Air 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.