Sealed Air Co. (NYSE:SEE) Holdings Raised by Appian Way Asset Management LP

Appian Way Asset Management LP lifted its position in shares of Sealed Air Co. (NYSE:SEE) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,426,247 shares of the industrial products company’s stock after buying an additional 76,390 shares during the quarter. Sealed Air makes up about 11.6% of Appian Way Asset Management LP’s holdings, making the stock its 2nd largest position. Appian Way Asset Management LP’s holdings in Sealed Air were worth $51,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC increased its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Sealed Air in the 3rd quarter valued at $139,800,000. Dimensional Fund Advisors LP lifted its stake in shares of Sealed Air by 33.5% during 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 purchasing an additional 479,675 shares during the period. Deprince Race & Zollo Inc. grew its position 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 valued at $64,571,000 after purchasing an additional 24,940 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 worth $58,587,000 after buying an additional 502,999 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Up 1.0 %

SEE stock opened at $36.59 on Friday. The business’s 50-day simple moving average is $35.81 and its 200 day simple moving average is $35.84. 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 company has a market cap of $5.33 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 5.01 and a beta of 1.34. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14.

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

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

Analyst Upgrades and Downgrades

SEE has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $35.00 in a report on Friday, August 9th. Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Wells Fargo & Company lifted 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. Finally, Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $41.00.

About Sealed Air

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.