Glenmede Trust Co. NA Makes New $321,000 Investment in Sealed Air Co. (NYSE:SEE)

Glenmede Trust Co. NA acquired a new position in Sealed Air Co. (NYSE:SEE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,831 shares of the industrial products company’s stock, valued at approximately $321,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Sealed Air by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,843 shares of the industrial products company’s stock worth $3,009,000 after purchasing an additional 4,471 shares during the last quarter. Atria Investments Inc purchased a new position in shares of Sealed Air in the 1st quarter worth about $1,054,000. Cardinal Capital Management raised its position in shares of Sealed Air by 4.4% in the 2nd quarter. Cardinal Capital Management now owns 34,778 shares of the industrial products company’s stock worth $1,210,000 after purchasing an additional 1,467 shares during the last quarter. Kwmg LLC raised its position in shares of Sealed Air by 14.3% in the 2nd quarter. Kwmg LLC now owns 124,741 shares of the industrial products company’s stock worth $4,340,000 after purchasing an additional 15,559 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Sealed Air by 336.5% in the 2nd quarter. SG Americas Securities LLC now owns 108,664 shares of the industrial products company’s stock worth $3,780,000 after purchasing an additional 83,770 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SEE. Truist Financial lowered their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Monday. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Thursday, October 17th. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective 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. Eight 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Trading Up 1.8 %

Sealed Air stock opened at $37.30 on Thursday. The firm has a 50 day moving average of $35.88 and a 200 day moving average of $35.76. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. 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.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. As a group, research analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is 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.