TD Asset Management Inc Purchases 29,600 Shares of Sealed Air Corporation (NYSE:SEE)

TD Asset Management Inc boosted its holdings in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 822,000 shares of the industrial products company's stock after purchasing an additional 29,600 shares during the period. TD Asset Management Inc owned about 0.56% of Sealed Air worth $23,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SEE. Invesco Ltd. raised its position in Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after purchasing an additional 1,549,184 shares during the period. Norges Bank acquired a new stake in shares of Sealed Air during the fourth quarter worth about $50,562,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Sealed Air by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock worth $416,657,000 after buying an additional 1,081,848 shares during the period. Victory Capital Management Inc. lifted its stake in shares of 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 during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Sealed Air by 90.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after purchasing an additional 715,668 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

Shares of SEE traded down $0.66 on Wednesday, reaching $29.76. 857,706 shares of the stock traded hands, compared to its average volume of 1,130,112. Sealed Air Corporation has a 12 month low of $22.78 and a 12 month high of $38.85. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.26 and a quick ratio of 0.76. The stock's 50-day moving average price is $31.62 and its 200-day moving average price is $31.10. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 2.78 and a beta of 1.35.

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

Sealed Air Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, September 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.69%. Sealed Air's dividend payout ratio (DPR) is currently 39.60%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SEE. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a research report on Tuesday, July 15th. Citigroup lifted 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. Wells Fargo & Company increased their target price on Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. UBS Group lifted their price objective on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Truist Financial lifted their target price on Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.27.

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.