Investors Research Corp Invests $1.10 Million in Sealed Air Co. (NYSE:SEE)

Investors Research Corp acquired a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 37,950 shares of the industrial products company's stock, valued at approximately $1,097,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after purchasing an additional 2,754,395 shares in the last quarter. Invesco Ltd. raised its stake in Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after buying an additional 1,549,184 shares during the last quarter. Norges Bank acquired a new stake in Sealed Air in the fourth quarter worth about $50,562,000. T. Rowe Price Investment Management Inc. grew its stake in shares of 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 acquiring an additional 1,081,848 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Sealed Air by 84.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock valued at $68,182,000 after acquiring an additional 920,000 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company's stock, valued at $1,050,000. This represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research report on Tuesday, March 4th. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Raymond James reduced their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 22nd. Mizuho lowered their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Truist Financial cut their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Sealed Air Stock Performance

NYSE:SEE traded up $0.17 during trading hours on Wednesday, reaching $32.32. The company had a trading volume of 335,581 shares, compared to its average volume of 1,548,307. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $22.78 and a 1-year high of $41.14. The business's 50 day moving average price is $28.88 and its 200-day moving average price is $32.11. The firm has a market cap of $4.75 billion, a PE ratio of 11.88 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. Sealed Air's payout ratio is 39.60%.

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.