Sealed Air Corporation $SEE Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Sealed Air Corporation by 34.3%, owning a total of 668,650 shares valued at approximately $19.32 million.
• Sealed Air reported earnings of $0.89 per share for the last quarter, exceeding analysts' expectations of $0.72, with total revenue reaching $1.34 billion.
• The company announced a quarterly dividend of $0.20 per share, which is set to be paid on September 26th, 2023, translating to an annualized yield of 2.5%.

Raymond James Financial Inc. lifted its holdings in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 34.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,650 shares of the industrial products company's stock after buying an additional 170,827 shares during the quarter. Raymond James Financial Inc. owned approximately 0.45% of Sealed Air worth $19,324,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Sealed Air by 182.4% during the 1st quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock worth $108,000 after buying an additional 2,413 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Sealed Air by 7.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock worth $1,628,000 after acquiring an additional 3,664 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of Sealed Air by 200.0% in the first quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock worth $1,734,000 after acquiring an additional 40,000 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Sealed Air by 9.4% in the first quarter. Russell Investments Group Ltd. now owns 105,651 shares of the industrial products company's stock worth $3,053,000 after acquiring an additional 9,052 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Sealed Air by 43.1% in the first quarter. Public Sector Pension Investment Board now owns 519,339 shares of the industrial products company's stock worth $15,009,000 after acquiring an additional 156,309 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SEE shares. Citigroup increased their price target on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a report on Friday, July 11th. Truist Financial increased their price target on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 11th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Sealed Air in a report on Tuesday, July 15th. Wells Fargo & Company upped their price objective on Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Mizuho upped their price objective on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

Sealed Air Trading Up 0.6%

NYSE:SEE traded up $0.20 during trading hours on Friday, reaching $32.43. 948,795 shares of the stock were exchanged, compared to its average volume of 1,663,815. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 4.18. The business has a 50-day moving average of $31.11 and a two-hundred day moving average of $30.47. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $38.85. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.53 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.17. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Sealed Air had a return on equity of 60.61% and a net margin of 5.46%.The firm's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Sealed Air has set its FY 2025 guidance at 2.900-3.300 EPS. On average, equities analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 12th. Sealed Air's dividend payout ratio (DPR) is presently 40.40%.

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.