Nordea Investment Management AB Increases Position in Sealed Air Co. (NYSE:SEE)

Nordea Investment Management AB lifted its position in shares of Sealed Air Co. (NYSE:SEE) by 186.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 442,857 shares of the industrial products company’s stock after purchasing an additional 288,044 shares during the period. Nordea Investment Management AB owned about 0.30% of Sealed Air worth $15,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SEE. Pacer Advisors Inc. purchased a new stake in Sealed Air during the 3rd quarter worth about $139,800,000. Swedbank AB purchased a new stake in Sealed Air during the third quarter worth approximately $53,681,000. Millennium Management LLC boosted its holdings in Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Sealed Air by 501.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after buying an additional 662,606 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its holdings in shares of Sealed Air by 56.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after purchasing an additional 548,493 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Trading Down 1.5 %

Shares of SEE stock opened at $33.71 on Thursday. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The business’s fifty day moving average price is $35.40 and its 200 day moving average price is $35.23. The firm has a market capitalization of $4.91 billion, a PE ratio of 12.39, a P/E/G ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results 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 business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, sell-side analysts forecast that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.37%. Sealed Air’s dividend payout ratio is presently 29.41%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup reduced their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday. Bank of America decreased their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday. Mizuho dropped their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sealed Air has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air 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.