Sealed Air Co. (NYSE:SEE) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its position in shares of Sealed Air Co. (NYSE:SEE) by 129.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 138,186 shares of the industrial products company’s stock after acquiring an additional 77,881 shares during the period. Van ECK Associates Corp’s holdings in Sealed Air were worth $5,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SEE. Family Firm Inc. purchased a new stake in shares of Sealed Air in the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air in the second quarter worth about $34,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sealed Air in the first quarter worth about $52,000. Covestor Ltd boosted its position in shares of Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after buying an additional 2,445 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 0.5 %

NYSE:SEE opened at $35.40 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The business’s 50 day moving average is $35.35 and its two-hundred day moving average is $35.67. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a market cap of $5.16 billion, a PE ratio of 13.01, a P/E/G ratio of 9.39 and a beta of 1.34.

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 analysts’ consensus estimates of $0.66 by $0.13. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the business posted $0.77 EPS. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Announces Dividend

The business also recently declared 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 2.26%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SEE shares. 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 for the company. Royal Bank of Canada reduced their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company increased their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Finally, Truist Financial reduced their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.