Invenomic Capital Management LP Purchases 213,944 Shares of 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 lifted its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 356.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,897 shares of the industrial products company's stock after purchasing an additional 213,944 shares during the quarter. Invenomic Capital Management LP owned 0.19% of Sealed Air worth $7,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEE. Alberta Investment Management Corp bought a new position in shares of Sealed Air during the first quarter worth $46,127,000. Victory Capital Management Inc. boosted its position in shares of Sealed Air by 42.1% during the first quarter. Victory Capital Management Inc. now owns 2,864,927 shares of the industrial products company's stock worth $82,796,000 after purchasing an additional 849,485 shares in the last quarter. Wellington Management Group LLP lifted its position 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 valued at $15,791,000 after acquiring an additional 292,826 shares in the last quarter. Northern Trust Corp lifted its position 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 valued at $55,561,000 after acquiring an additional 288,528 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Sealed Air in the 1st quarter valued at $8,286,000. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Performance

SEE traded up $0.41 on Friday, reaching $32.72. The company had a trading volume of 1,213,442 shares, compared to its average volume of 1,473,207. Sealed Air Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85. The stock has a market cap of $4.81 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.55 and a beta of 1.33. The company's fifty day moving average is $31.23 and its 200 day moving average is $30.40. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.71 and a current ratio of 1.19.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 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 business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business earned $0.83 EPS. 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. As a group, analysts predict that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. Sealed Air's payout ratio is currently 40.40%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SEE shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Sealed Air in a research report on Tuesday, July 15th. Mizuho lifted their price target on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Truist Financial lifted their price target on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Citigroup lifted their price target on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.

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.