Sciencast Management LP Increases Stake in Sealed Air Co. (NYSE:SEE)

Sciencast Management LP grew its holdings in Sealed Air Co. (NYSE:SEE) by 173.6% during the 1st quarter, Holdings Channel reports. The fund owned 25,474 shares of the industrial products company’s stock after buying an additional 16,164 shares during the period. Sciencast Management LP’s holdings in Sealed Air were worth $948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SEE. Gallacher Capital Management LLC bought a new position in Sealed Air in the 1st quarter worth $330,000. Texas Permanent School Fund Corp raised its stake in shares of Sealed Air by 1.2% in the first quarter. Texas Permanent School Fund Corp now owns 126,283 shares of the industrial products company’s stock worth $4,698,000 after buying an additional 1,527 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Sealed Air during the 1st quarter valued at about $31,000. Janney Montgomery Scott LLC grew its stake in shares of Sealed Air by 9.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,334 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 2,156 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sealed Air in the 1st quarter worth approximately $582,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SEE. StockNews.com downgraded shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, July 3rd. Citigroup dropped their target price on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday. Truist Financial reissued a “buy” rating and set a $44.00 price target on shares of Sealed Air in a report on Monday, June 17th. Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, Stifel Nicolaus assumed coverage on Sealed Air in a research note on Tuesday. They set a “buy” rating and a $47.00 target price on the stock. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.00.

Sealed Air Price Performance

Shares of SEE stock traded up $0.54 on Friday, reaching $35.85. The company’s stock had a trading volume of 1,015,357 shares, compared to its average volume of 1,525,237. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 3.11 and a beta of 1.35. The stock’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $35.74. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $47.12.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Sealed Air Co. will post 2.89 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, June 14th. 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.