Swedbank AB Takes Position in Sealed Air Co. (NYSE:SEE)

Swedbank AB bought a new position in Sealed Air Co. (NYSE:SEE) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,478,814 shares of the industrial products company’s stock, valued at approximately $53,681,000. Swedbank AB owned 1.02% of Sealed Air as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SEE. Millennium Management LLC increased its holdings in shares of Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Appian Way Asset Management LP purchased a new stake in shares of Sealed Air in the first quarter valued at approximately $29,877,000. Vanguard Group Inc. lifted its holdings in Sealed Air by 3.7% during the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after buying an additional 600,146 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Sealed Air by 33.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after buying an additional 479,675 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sealed Air by 83.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,731 shares of the industrial products company’s stock valued at $37,861,000 after purchasing an additional 471,289 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Price Performance

NYSE SEE opened at $34.99 on Wednesday. The company has a market cap of $5.10 billion, a P/E ratio of 14.05, a P/E/G ratio of 8.72 and a beta of 1.34. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $41.14. The company has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $35.30. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, sell-side analysts predict that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. Sealed Air’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial cut their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup decreased their target price on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Royal Bank of Canada downgraded shares of Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $43.00 to $40.00 in a report on Friday, July 19th. Finally, UBS Group dropped their price target on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” 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.