T. Rowe Price Investment Management Inc. Increases Position in Sealed Air Corporation $SEE

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Sealed Air Corporation to 12,545,129 shares, representing 8.53% of the company, valued at approximately $362.56 million.
• Sealed Air reported a quarterly EPS of $0.89, exceeding the consensus estimate of $0.72, while its revenue for the quarter was $1.34 billion, slightly above estimates.
• The company has announced a quarterly dividend of $0.20 per share, with a dividend yield of 2.6%, set to be paid on September 26th.

T. Rowe Price Investment Management Inc. lifted its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,545,129 shares of the industrial products company's stock after acquiring an additional 228,937 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 8.53% of Sealed Air worth $362,555,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Sealed Air during the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air during the 1st quarter valued at $26,000. North Capital Inc. acquired a new stake in shares of Sealed Air during the 1st quarter valued at $30,000. CX Institutional acquired a new stake in shares of Sealed Air during the 1st quarter valued at $52,000. Finally, Whittier Trust Co. boosted its holdings in shares of Sealed Air by 77.7% during the 1st quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 797 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SEE shares. Truist Financial raised their price objective on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Citigroup raised their target price on Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group raised their target price on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Mizuho raised their target price on Sealed Air from $34.00 to $37.00 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. One investment 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 company's stock. According to data from MarketBeat, Sealed Air has a consensus rating of "Moderate Buy" and an average target price of $38.80.

Sealed Air Stock Up 0.1%

Sealed Air stock traded up $0.03 during midday trading on Tuesday, reaching $32.31. The stock had a trading volume of 131,603 shares, compared to its average volume of 1,588,104. Sealed Air Corporation has a 12 month low of $22.78 and a 12 month high of $38.85. The company has a market capitalization of $4.75 billion, a P/E ratio of 16.31, a PEG ratio of 2.55 and a beta of 1.33. The company has a fifty day moving average price of $30.97 and a two-hundred day moving average price of $30.49. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 4.18.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Sealed Air had a return on equity of 60.61% and a net margin of 5.46%.The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. Sealed Air has set its FY 2025 guidance at 2.900-3.300 EPS. As a group, equities analysts expect that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. Sealed Air's payout ratio is 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.