38,100 Shares in Sealed Air Co. (NYSE:SEE) Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,100 shares of the industrial products company’s stock, valued at approximately $1,383,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its position in Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Pacer Advisors Inc. bought a new position in shares of Sealed Air during the 3rd quarter valued at $139,800,000. Dimensional Fund Advisors LP boosted its stake in shares of Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after buying an additional 479,675 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after acquiring an additional 24,940 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after acquiring an additional 502,999 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley started coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price on the stock. Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Up 1.0 %

Shares of SEE opened at $36.60 on Monday. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $5.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34. The business’s 50 day moving average is $35.84 and its 200 day moving average is $35.81.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Research analysts expect 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 issued a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is 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.