Mackenzie Financial Corp Buys 9,379 Shares of Sealed Air Corporation (NYSE:SEE)

Mackenzie Financial Corp increased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 137.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,207 shares of the industrial products company's stock after buying an additional 9,379 shares during the period. Mackenzie Financial Corp's holdings in Sealed Air were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $27,000. North Capital Inc. purchased a new position in Sealed Air during the first quarter valued at $30,000. CX Institutional bought a new stake in Sealed Air in the first quarter worth $52,000. Whittier Trust Co. grew its stake in shares of Sealed Air by 77.7% in the first quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock worth $53,000 after acquiring an additional 797 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Sealed Air by 26.9% during the fourth quarter. Covestor Ltd now owns 3,157 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 670 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of SEE stock opened at $29.49 on Friday. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.19 and a quick ratio of 0.76. The business has a fifty day moving average of $31.26 and a 200 day moving average of $30.89. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.66 and a beta of 1.33. Sealed Air Corporation has a 1 year low of $22.78 and a 1 year high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last announced 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. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. As a group, research analysts expect that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.7%. Sealed Air's dividend payout ratio (DPR) is currently 39.60%.

Analyst Ratings Changes

Several analysts have commented on SEE shares. Mizuho increased their target price on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Truist Financial increased their price objective on Sealed Air from $33.00 to $40.00 and gave the company 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 report on Tuesday, July 15th. Citigroup upped their target price on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their price target 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. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sealed Air currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.27.

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.

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