Penserra Capital Management LLC acquired a new position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,279 shares of the industrial products company's stock, valued at approximately $325,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of SEE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Sealed Air during the 4th quarter worth about $27,000. North Capital Inc. acquired a new stake in Sealed Air during the 1st quarter worth about $30,000. Brown Brothers Harriman & Co. raised its holdings in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after buying an additional 712 shares during the period. CX Institutional acquired a new stake in Sealed Air during the 1st quarter worth about $52,000. Finally, Jones Financial Companies Lllp raised its holdings in Sealed Air by 98.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company's stock worth $53,000 after buying an additional 778 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on SEE. Truist Financial upped their target price on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. UBS Group upped their target price on Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday. Mizuho dropped their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup upped their target price on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a report on Friday. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.55.
View Our Latest Analysis on SEE
Sealed Air Trading Down 2.1%
Shares of NYSE SEE opened at $32.01 on Friday. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.98 and a beta of 1.35. The business has a 50 day simple moving average of $31.66 and a 200 day simple moving average of $31.36. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $38.85. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26.
Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, research analysts predict that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.
Sealed Air Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.50%. Sealed Air's payout ratio is currently 39.60%.
Sealed Air Company Profile
(
Free Report)
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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