Swedbank AB Buys Shares of 1,478,814 Sealed Air Co. (NYSE:SEE)

Swedbank AB acquired a new position in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,478,814 shares of the industrial products company’s stock, valued at approximately $53,681,000. Swedbank AB owned about 1.02% of Sealed Air as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cerity Partners LLC lifted its stake in Sealed Air by 49.2% during the third quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 7,003 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Sealed Air by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock valued at $509,000 after buying an additional 466 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Sealed Air by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after acquiring an additional 502,999 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Sealed Air during the 3rd quarter valued at about $139,800,000. Finally, Commerce Bank increased its stake in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 14,766 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

SEE has been the subject of a number of research reports. Morgan Stanley assumed coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Royal Bank of Canada dropped their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Truist Financial reduced their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Seven research 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 company. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Price Performance

SEE stock opened at $35.90 on Monday. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 4.97 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The business has a 50 day moving average price of $35.69 and a 200 day moving average price of $35.85.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is currently 29.41%.

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.