Sealed Air Co. (NYSE:SEE) Stake Boosted by Readystate Asset Management LP

Readystate Asset Management LP increased its stake in Sealed Air Co. (NYSE:SEE) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,277 shares of the industrial products company’s stock after purchasing an additional 8,890 shares during the quarter. Readystate Asset Management LP’s holdings in Sealed Air were worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SEE. Price T Rowe Associates Inc. MD increased its stake in Sealed Air by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,843 shares of the industrial products company’s stock worth $3,009,000 after purchasing an additional 4,471 shares in the last quarter. Atria Investments Inc purchased a new stake in Sealed Air in the 1st quarter worth about $1,054,000. Cardinal Capital Management lifted its stake in Sealed Air by 4.4% in the 2nd quarter. Cardinal Capital Management now owns 34,778 shares of the industrial products company’s stock worth $1,210,000 after acquiring an additional 1,467 shares in the last quarter. Kwmg LLC lifted its stake in Sealed Air by 14.3% in the 2nd quarter. Kwmg LLC now owns 124,741 shares of the industrial products company’s stock worth $4,340,000 after acquiring an additional 15,559 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Sealed Air by 336.5% in the 2nd quarter. SG Americas Securities LLC now owns 108,664 shares of the industrial products company’s stock worth $3,780,000 after acquiring an additional 83,770 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

NYSE:SEE opened at $37.30 on Thursday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The firm’s 50-day moving average is $35.88 and its 200-day moving average is $35.76. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 5.07 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is presently 29.41%.

Analyst Ratings Changes

SEE has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Royal Bank of Canada reduced their price objective on 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. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Finally, Truist Financial lowered their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.