Readystate Asset Management LP Acquires 64,209 Shares of Sealed Air Corporation (NYSE:SEE)

Readystate Asset Management LP lifted its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 138.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 110,483 shares of the industrial products company's stock after acquiring an additional 64,209 shares during the quarter. Readystate Asset Management LP owned 0.08% of Sealed Air worth $3,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Sealed Air by 182.4% in the first quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock worth $108,000 after purchasing an additional 2,413 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after purchasing an additional 715,668 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings 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 purchasing an additional 3,664 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Sealed Air in the fourth quarter worth approximately $16,841,000. Finally, Manning & Napier Advisors LLC grew its holdings 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 purchasing an additional 40,000 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Down 0.1%

Shares of NYSE SEE traded down $0.04 during mid-day trading on Friday, hitting $31.00. 962,131 shares of the stock traded hands, compared to its average volume of 1,226,189. 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 Corporation has a 52 week low of $22.78 and a 52 week high of $38.85. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.83 and a beta of 1.35. The stock has a fifty day moving average price of $31.73 and a 200-day moving average price of $31.15.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. Research analysts anticipate that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

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 given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.58%. Sealed Air's dividend payout ratio is presently 39.60%.

Analyst Ratings Changes

SEE has been the topic of several recent analyst reports. Truist Financial raised their target price on shares of Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Raymond James Financial restated a "strong-buy" rating on shares of Sealed Air in a report on Tuesday, July 15th. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Mizuho upped their target price on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their target price on Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sealed Air presently has an average 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.