Bank of Montreal Can Acquires 163,493 Shares of Sealed Air Co. (NYSE:SEE)

Bank of Montreal Can lifted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 175.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 256,641 shares of the industrial products company’s stock after purchasing an additional 163,493 shares during the period. Bank of Montreal Can’s holdings in Sealed Air were worth $9,411,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in Sealed Air during the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air in the second quarter worth approximately $34,000. Allspring Global Investments Holdings LLC boosted its holdings in Sealed Air by 100.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sealed Air during the 2nd quarter worth approximately $105,000. Institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SEE shares. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Morgan Stanley began coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Finally, Truist Financial cut their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Performance

NYSE SEE opened at $36.60 on Monday. The company has a market cap of $5.33 billion, a P/E ratio of 13.46, a PEG ratio of 5.06 and a beta of 1.34. The company has a fifty day simple moving average of $35.84 and a 200 day simple moving average of $35.81. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14.

Sealed Air (NYSE:SEE) last issued 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. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Sell-side analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

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.