Brandes Investment Partners LP Purchases 120,994 Shares of Sealed Air Co. (NYSE:SEE)

Brandes Investment Partners LP grew its position in Sealed Air Co. (NYSE:SEE) by 28.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 552,706 shares of the industrial products company’s stock after acquiring an additional 120,994 shares during the period. Brandes Investment Partners LP owned 0.38% of Sealed Air worth $18,698,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quarry LP grew its stake in shares of Sealed Air by 9.2% in the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after buying an additional 311 shares during the period. Arizona State Retirement System grew its stake in shares of Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock valued at $1,430,000 after buying an additional 348 shares during the period. Choreo LLC grew its stake in shares of Sealed Air by 3.7% in the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after buying an additional 351 shares during the period. Metis Global Partners LLC grew its stake in shares of Sealed Air by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock valued at $306,000 after buying an additional 375 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Sealed Air by 3.3% in the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock valued at $399,000 after buying an additional 377 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America reduced their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group lifted their price target on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Truist Financial lifted their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company lifted their price target on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $40.25.

Sealed Air Trading Up 1.0 %

NYSE:SEE opened at $29.85 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $4.35 billion, a PE ratio of 10.97 and a beta of 1.32. The firm’s 50 day moving average is $33.53 and its 200 day moving average is $34.70. Sealed Air Co. has a 12 month low of $29.33 and a 12 month high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. Sell-side analysts expect that Sealed Air Co. 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, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. Sealed Air’s dividend payout ratio (DPR) is currently 44.20%.

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.