Invenomic Capital Management LP Increases Stock Position in Sealed Air Corporation $SEE

Key Points

• Invenomic Capital Management LP significantly increased its stake in Sealed Air Corporation by 356.9%, acquiring an additional 213,944 shares during the 1st quarter.
• Research firms have upgraded Sealed Air's stock rating from "hold" to "buy," with price targets increasing, indicating a positive outlook among analysts.
• Sealed Air announced a quarterly dividend of $0.20 per share, representing a 2.5% dividend yield, set for payment on September 26th, 2023.

Invenomic Capital Management LP increased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 356.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 273,897 shares of the industrial products company's stock after acquiring an additional 213,944 shares during the quarter. Invenomic Capital Management LP owned approximately 0.19% of Sealed Air worth $7,916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. Alberta Investment Management Corp purchased a new stake in Sealed Air in the 1st quarter worth $46,127,000. Victory Capital Management Inc. increased its holdings in Sealed Air by 42.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,864,927 shares of the industrial products company's stock worth $82,796,000 after acquiring an additional 849,485 shares in the last quarter. Wellington Management Group LLP increased its holdings in Sealed Air by 168.3% in the 4th quarter. Wellington Management Group LLP now owns 466,785 shares of the industrial products company's stock worth $15,791,000 after acquiring an additional 292,826 shares in the last quarter. Northern Trust Corp increased its holdings in Sealed Air by 21.3% in the 4th quarter. Northern Trust Corp now owns 1,642,371 shares of the industrial products company's stock worth $55,561,000 after acquiring an additional 288,528 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Sealed Air in the 1st quarter worth $8,286,000. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Trading Down 1.4%

Shares of SEE traded down $0.47 during mid-day trading on Wednesday, reaching $32.90. The stock had a trading volume of 367,052 shares, compared to its average volume of 1,566,226. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.19 and a quick ratio of 0.71. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The business's fifty day moving average is $31.30 and its 200 day moving average is $30.43. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.58 and a beta of 1.33.

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

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's dividend payout ratio (DPR) is 40.40%.

Analyst Ratings Changes

Several brokerages recently commented on SEE. Citigroup boosted their price target on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upgraded shares of Sealed Air from a "neutral" rating to an "overweight" rating and increased their target price for the company from $33.00 to $36.00 in a research report on Tuesday. Mizuho increased their target price on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Truist Financial increased their target price on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Sealed Air in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.55.

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.