Sealed Air Corporation $SEE Shares Acquired by T. Rowe Price Investment Management Inc.

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. increased its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,545,129 shares of the industrial products company's stock after acquiring an additional 228,937 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 8.53% of Sealed Air worth $362,555,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in 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 acquiring an additional 2,413 shares during the period. Oppenheimer Asset Management Inc. grew its position in 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 acquiring an additional 3,664 shares during the period. Manning & Napier Advisors LLC grew its position in 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 acquiring an additional 40,000 shares during the period. Squarepoint Ops LLC purchased a new position in Sealed Air in the fourth quarter worth approximately $350,000. Finally, Public Sector Pension Investment Board grew its position in Sealed Air by 43.1% in the first quarter. Public Sector Pension Investment Board now owns 519,339 shares of the industrial products company's stock worth $15,009,000 after acquiring an additional 156,309 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on SEE shares. UBS Group increased their price objective on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Mizuho increased their price objective on Sealed Air from $34.00 to $37.00 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. Citigroup upped their price target on Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Truist Financial upped their price target on Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.80.

Sealed Air Trading Up 3.2%

NYSE:SEE traded up $1.0010 during trading hours on Friday, reaching $32.7210. 1,492,666 shares of the stock were exchanged, compared to its average volume of 1,630,965. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 4.18. The business has a 50-day moving average of $30.95 and a two-hundred day moving average of $30.53. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $38.85. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.55 and a beta of 1.33.

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

Sealed Air Announces Dividend

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