Penserra Capital Management LLC Takes $325,000 Position in Sealed Air Corporation (NYSE:SEE)

Penserra Capital Management LLC bought a new stake in Sealed Air Corporation (NYSE:SEE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,279 shares of the industrial products company's stock, valued at approximately $325,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Sealed Air by 17.7% during the 4th 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. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sealed Air by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after purchasing an additional 1,081,848 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after purchasing an additional 1,549,184 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sealed Air by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after purchasing an additional 178,592 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sealed Air by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company's stock valued at $55,716,000 after purchasing an additional 32,976 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Down 2.2%

Sealed Air stock traded down $0.71 during midday trading on Tuesday, reaching $31.02. The stock had a trading volume of 1,108,515 shares, compared to its average volume of 1,540,509. The firm's fifty day simple moving average is $31.66 and its two-hundred day simple moving average is $31.32. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month 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 firm has a market cap of $4.56 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 2.92 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The company's revenue 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. Equities analysts anticipate that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Sealed Air's dividend payout ratio is currently 39.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SEE shares. Mizuho boosted their price objective on shares of Sealed Air from $34.00 to $37.00 and gave the stock an "outperformer" rating in a report on Tuesday. UBS Group boosted their price objective on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Citigroup upped their target price on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday. Truist Financial upped their target price on shares of Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Raymond James Financial upped their target price on shares of Sealed Air from $36.00 to $39.00 and gave the stock a "strong-buy" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.