Impax Asset Management Group plc Buys New Stake in Sealed Air Co. (NYSE:SEE)

Impax Asset Management Group plc purchased a new position in shares of Sealed Air Co. (NYSE:SEE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 538,281 shares of the industrial products company’s stock, valued at approximately $18,210,000. Impax Asset Management Group plc owned 0.37% of Sealed Air as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after buying an additional 311 shares during the period. Choreo LLC lifted its holdings in shares of Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 351 shares during the period. Truist Financial Corp boosted 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 purchasing an additional 377 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sealed Air by 4.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,970 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 380 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Sealed Air by 3.4% during the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 466 shares in the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SEE. Citigroup reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho dropped their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley lowered their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, Truist Financial upped their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Sealed Air Stock Performance

Shares of NYSE:SEE opened at $32.13 on Tuesday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 11.81 and a beta of 1.34. 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 Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The business has a 50-day moving average price of $34.17 and a two-hundred day moving average price of $34.90.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.49%. Sealed Air’s dividend payout ratio is currently 29.41%.

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.