Alberta Investment Management Corp Invests $46.13 Million in Sealed Air Corporation (NYSE:SEE)

Key Points

• Alberta Investment Management Corp invested $46.13 million to acquire 1,596,100 shares of Sealed Air Corporation, representing approximately 1.09% of the company's stock.
• Several hedge funds have increased their stakes in Sealed Air, with Bayforest Capital Ltd boosting its holdings by 559.2% during the first quarter.
• Analysts have increased their target prices for Sealed Air, with Wells Fargo raising it from $39.00 to $43.00 and several others issuing "buy" ratings.

Alberta Investment Management Corp purchased a new stake in shares of Sealed Air Corporation (NYSE:SEE - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,596,100 shares of the industrial products company's stock, valued at approximately $46,127,000. Alberta Investment Management Corp owned about 1.09% of Sealed Air at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Sealed Air by 182.4% during the 1st quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock worth $108,000 after buying an additional 2,413 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Sealed Air by 90.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after buying an additional 715,668 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Sealed Air by 7.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock valued at $1,628,000 after buying an additional 3,664 shares during the period. Raymond James Financial Inc. acquired a new position in Sealed Air in the 4th quarter valued at $16,841,000. Finally, Manning & Napier Advisors LLC boosted its position in shares of Sealed Air by 200.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock worth $1,734,000 after purchasing an additional 40,000 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on SEE shares. Citigroup boosted their target price on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday, July 15th. Mizuho upped their price objective on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Wells Fargo & Company upped their price objective on shares of Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, UBS Group upped their price objective on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Sealed Air has an average rating of "Moderate Buy" and an average price target of $38.27.

Sealed Air Trading Up 3.7%

Shares of NYSE:SEE traded up $1.07 during midday trading on Tuesday, reaching $30.05. The company had a trading volume of 1,182,316 shares, compared to its average volume of 1,568,098. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33. The company has a fifty day simple moving average of $31.44 and a two-hundred day simple moving average of $30.95.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.17. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $0.83 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. Research analysts predict that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's payout ratio is currently 39.60%.

Sealed Air Company 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.