EdgePoint Investment Group Inc. Grows Position in Sealed Air Corporation $SEE

Key Points

• EdgePoint boosted its stake in Sealed Air by 2,079.6% in Q3, adding 504,808 shares to hold 529,082 shares worth about $18.7 million (≈0.36% of SEE and its 29th largest holding).
• Other large managers including Invesco, Bank of America and Ancora also materially increased positions, and institutional investors collectively own about 94.4% of Sealed Air.
• Sealed Air recently beat estimates (Q EPS $0.77 vs $0.72; revenue $1.40B vs $1.34B), declared a $0.20 quarterly dividend (annualized yield ~1.9%), and carries a consensus analyst rating of "Moderate Buy" with an average target of $44.09.

EdgePoint Investment Group Inc. lifted its position in Sealed Air Corporation (NYSE:SEE - Free Report) by 2,079.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 529,082 shares of the industrial products company's stock after purchasing an additional 504,808 shares during the period. Sealed Air comprises approximately 0.1% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 29th biggest holding. EdgePoint Investment Group Inc. owned about 0.36% of Sealed Air worth $18,703,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. boosted its position in Sealed Air by 31.7% during the 3rd quarter. Invesco Ltd. now owns 4,754,668 shares of the industrial products company's stock valued at $168,078,000 after buying an additional 1,144,982 shares during the period. Bank of America Corp DE raised its stake in shares of Sealed Air by 13.7% during the second quarter. Bank of America Corp DE now owns 4,220,533 shares of the industrial products company's stock valued at $130,963,000 after acquiring an additional 507,067 shares during the last quarter. Ancora Advisors LLC raised its stake in shares of Sealed Air by 81.1% during the third quarter. Ancora Advisors LLC now owns 3,437,412 shares of the industrial products company's stock valued at $121,513,000 after acquiring an additional 1,538,927 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sealed Air by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,900,066 shares of the industrial products company's stock worth $102,513,000 after purchasing an additional 137,699 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Sealed Air by 2.1% in the third quarter. Victory Capital Management Inc. now owns 2,798,654 shares of the industrial products company's stock worth $98,932,000 after purchasing an additional 57,511 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Price Performance

SEE stock opened at $41.82 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.91 and a quick ratio of 0.56. Sealed Air Corporation has a 1 year low of $22.78 and a 1 year high of $44.27. The firm has a 50-day moving average of $41.84 and a 200 day moving average of $38.95. The company has a market cap of $6.16 billion, a P/E ratio of 12.19 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. Sealed Air had a return on equity of 47.21% and a net margin of 9.43%.The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Sealed Air's payout ratio is currently 23.32%.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of research analyst reports. Wall Street Zen downgraded Sealed Air from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 16th. Stifel Nicolaus reiterated a "hold" rating and issued a $45.00 price objective (up from $43.80) on shares of Sealed Air in a report on Monday, November 17th. Truist Financial boosted their target price on Sealed Air from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. Raymond James Financial downgraded Sealed Air from an "outperform" rating to a "market perform" rating in a report on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sealed Air in a research note on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $44.09.

Sealed Air Profile

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air's solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company's product portfolio is organized into three primary segments.

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