Bayforest Capital Ltd Raises Stake in Sealed Air Corporation (NYSE:SEE)

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Sealed Air Corporation, raising its holdings by 559.2% to a total of $431,000 worth of stock.
• Sealed Air recently received multiple upgrades from analysts, with price targets now ranging from $37.00 to $40.00, while maintaining a consensus rating of 'Moderate Buy.'
• The company announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 2.69%, with a payout ratio of 39.60%.

Bayforest Capital Ltd increased its stake in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 559.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,912 shares of the industrial products company's stock after buying an additional 12,650 shares during the quarter. Bayforest Capital Ltd's holdings in Sealed Air were worth $431,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its holdings in Sealed Air by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock worth $416,657,000 after buying an additional 1,081,848 shares in the last quarter. Invesco Ltd. grew its holdings in Sealed Air by 69.2% during the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after buying an additional 1,549,184 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Sealed Air by 42.1% during the first quarter. Victory Capital Management Inc. now owns 2,864,927 shares of the industrial products company's stock worth $82,796,000 after buying an additional 849,485 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sealed Air by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock worth $74,583,000 after buying an additional 178,592 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Sealed Air by 21.3% during the fourth quarter. Northern Trust Corp now owns 1,642,371 shares of the industrial products company's stock worth $55,561,000 after buying an additional 288,528 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEE. UBS Group upped their price target on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Citigroup upped their price objective on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Wells Fargo & Company upped their price objective on Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Mizuho upped their price objective on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.27.

Sealed Air Stock Performance

Shares of NYSE SEE traded down $0.81 during trading on Friday, reaching $28.46. 1,253,406 shares of the stock traded hands, compared to its average volume of 1,059,404. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.26 and a quick ratio of 0.76. The company has a 50-day moving average of $31.50 and a 200-day moving average of $31.04. The stock has a market capitalization of $4.19 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.67 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. Analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Sealed Air's dividend payout ratio is 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.