Impax Asset Management Group plc Increases Position in Sealed Air Corporation (NYSE:SEE)

Impax Asset Management Group plc lifted its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 574,197 shares of the industrial products company's stock after purchasing an additional 35,916 shares during the quarter. Impax Asset Management Group plc owned about 0.39% of Sealed Air worth $16,594,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. North Capital Inc. purchased a new position in Sealed Air in the 1st quarter worth approximately $30,000. Principal Financial Group Inc. boosted its holdings in Sealed Air by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 732,624 shares of the industrial products company's stock worth $21,173,000 after acquiring an additional 20,029 shares during the period. Summit Trail Advisors LLC purchased a new position in Sealed Air in the 1st quarter worth approximately $212,000. New York State Teachers Retirement System boosted its holdings in Sealed Air by 2.4% in the 1st quarter. New York State Teachers Retirement System now owns 170,875 shares of the industrial products company's stock worth $4,938,000 after acquiring an additional 4,043 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in Sealed Air by 5.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 82,738 shares of the industrial products company's stock worth $2,391,000 after acquiring an additional 4,623 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Trading Up 1.5%

NYSE:SEE traded up $0.47 on Tuesday, reaching $32.20. The company's stock had a trading volume of 272,864 shares, compared to its average volume of 1,627,154. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year 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. The firm has a market cap of $4.74 billion, a PE ratio of 15.94, a PEG ratio of 2.96 and a beta of 1.35. The business's 50-day moving average price is $31.29 and its two-hundred day moving average price is $31.37.

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

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid 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 yield of 2.48%. Sealed Air's dividend payout ratio (DPR) is presently 39.60%.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price on the stock in a research report on Monday, April 7th. Raymond James Financial dropped their price target on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Mizuho dropped their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sealed Air currently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

About Sealed Air

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.