Locust Wood Capital Advisers LLC Invests $719,000 in Sealed Air Corporation (NYSE:SEE)

Key Points

• Locust Wood Capital Advisers LLC acquired a new stake in Sealed Air Corporation, purchasing 24,875 shares valued at approximately $719,000.
• Sealed Air recently announced a quarterly dividend of $0.20, which equates to an annualized dividend of $0.80 and a yield of 2.7%.
• The company reported earnings of $0.89 per share for the last quarter, surpassing estimates, despite a slight decline in revenue year-over-year.

Locust Wood Capital Advisers LLC acquired a new position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,875 shares of the industrial products company's stock, valued at approximately $719,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in Sealed Air during the first quarter worth about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sealed Air during the fourth quarter worth about $27,000. North Capital Inc. purchased a new position in Sealed Air during the first quarter worth about $30,000. CX Institutional purchased a new position in Sealed Air during the first quarter worth about $52,000. Finally, Whittier Trust Co. boosted its stake in Sealed Air by 77.7% during the first quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock worth $53,000 after buying an additional 797 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Stock Down 0.8%

Sealed Air stock traded down $0.24 during trading on Friday, reaching $29.30. The stock had a trading volume of 1,100,773 shares, compared to its average volume of 1,285,142. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The business has a 50 day moving average price of $31.20 and a 200 day moving average price of $30.82. The company has a quick ratio of 0.76, a current ratio of 1.19 and a debt-to-equity ratio of 4.18. The stock has a market cap of $4.31 billion, a PE ratio of 14.80, a P/E/G ratio of 2.31 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.17. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The firm's quarterly revenue was down .7% on a year-over-year basis. On average, analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.7%. Sealed Air's payout ratio is currently 40.40%.

Analysts Set New Price Targets

Several brokerages have weighed in on SEE. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company increased their target price on shares of Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Truist Financial raised their price objective on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Sealed Air in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.27.

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.