Covestor Ltd Raises Stake in Sealed Air Co. (NYSE:SEE)

Covestor Ltd increased its stake in Sealed Air Co. (NYSE:SEE) by 651.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,615 shares of the industrial products company’s stock after buying an additional 1,400 shares during the quarter. Covestor Ltd’s holdings in Sealed Air were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Sealed Air by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after acquiring an additional 600,146 shares during the period. Jade Capital Advisors LLC bought a new stake in Sealed Air in the 1st quarter valued at about $2,046,000. ProVise Management Group LLC bought a new stake in Sealed Air in the 1st quarter valued at about $277,000. Orion Portfolio Solutions LLC raised its stake in Sealed Air by 176.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 25,725 shares of the industrial products company’s stock valued at $957,000 after acquiring an additional 16,432 shares during the period. Finally, Wilkins Investment Counsel Inc. bought a new stake in Sealed Air in the 1st quarter valued at about $285,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEE has been the topic of several analyst reports. Citigroup decreased their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. UBS Group decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. William Blair restated a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and issued a $44.00 target price on shares of Sealed Air in a research note on Monday, June 17th. Finally, Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Sealed Air presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $35.85 on Thursday. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $47.12. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80. The business has a fifty day moving average price of $36.71 and a 200-day moving average price of $35.71. The company has a market capitalization of $5.22 billion, a PE ratio of 14.40, a PEG ratio of 4.39 and a beta of 1.35.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm posted $0.74 earnings per share. Sealed Air’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts expect that Sealed Air Co. will post 2.86 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio (DPR) is presently 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.