MQS Management LLC Purchases New Position in Sealed Air Co. (NYSE:SEE)

MQS Management LLC acquired a new position in shares of Sealed Air Co. (NYSE:SEE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,783 shares of the industrial products company’s stock, valued at approximately $514,000.

Other large investors have also bought and sold shares of the company. Invenomic Capital Management LP acquired a new stake in shares of Sealed Air in the fourth quarter valued at approximately $6,834,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Sealed Air by 9.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock valued at $6,750,000 after acquiring an additional 15,710 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air in the first quarter valued at about $582,000. Point72 Europe London LLP acquired a new stake in Sealed Air in the fourth quarter worth about $852,000. Finally, Hsbc Holdings PLC increased its position in Sealed Air by 2,549.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock worth $195,720,000 after purchasing an additional 5,138,700 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Citigroup reduced their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Stifel Nicolaus assumed coverage on Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.30.

Sealed Air Stock Performance

SEE stock opened at $35.60 on Friday. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $41.14. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The firm has a market cap of $5.19 billion, a PE ratio of 14.30, a P/E/G ratio of 8.59 and a beta of 1.34. The business’s 50-day moving average price is $34.87 and its two-hundred day moving average price is $35.39.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.80 EPS. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, research analysts forecast that Sealed Air Co. will post 2.93 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, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Sealed Air Company 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.