NuWave Investment Management LLC Invests $172,000 in Sealed Air Co. (NYSE:SEE)

Posted by on Jun 23rd, 2022

NuWave Investment Management LLC bought a new position in Sealed Air Co. (NYSE:SEE – Get Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,574 shares of the industrial products company’s stock, valued at approximately $172,000.

Several other institutional investors have also recently added to or reduced their stakes in SEE. BlackRock Inc. increased its position in shares of Sealed Air by 13.0% in the fourth quarter. BlackRock Inc. now owns 18,393,878 shares of the industrial products company’s stock worth $1,241,033,000 after acquiring an additional 2,114,602 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Sealed Air by 230.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,609,512 shares of the industrial products company’s stock worth $108,594,000 after acquiring an additional 1,122,961 shares in the last quarter. Kensico Capital Management Corp grew its position in Sealed Air by 33.8% during the fourth quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock valued at $282,912,000 after purchasing an additional 1,058,900 shares in the last quarter. Millennium Management LLC grew its position in Sealed Air by 824.3% during the fourth quarter. Millennium Management LLC now owns 552,042 shares of the industrial products company’s stock valued at $37,246,000 after purchasing an additional 492,314 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Sealed Air during the fourth quarter valued at approximately $32,042,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

NYSE SEE opened at $57.44 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.31 and a debt-to-equity ratio of 19.38. The stock has a market capitalization of $8.39 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. The company has a 50 day moving average price of $62.87 and a two-hundred day moving average price of $65.22. Sealed Air Co. has a 12-month low of $53.87 and a 12-month high of $70.72.

Sealed Air (NYSE:SEE – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. Sealed Air had a net margin of 9.60% and a return on equity of 355.49%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Sealed Air’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Sealed Air Co. will post 4.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, June 9th. Sealed Air’s payout ratio is 22.10%.

A number of research analysts recently commented on SEE shares. StockNews.com started coverage on shares of Sealed Air in a research report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. downgraded shares of Sealed Air from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $71.00 to $62.00 in a research report on Wednesday, June 1st. Finally, Citigroup lowered their price objective on shares of Sealed Air from $81.00 to $80.00 in a research report on Friday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $71.73.

Sealed Air Profile (Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

See Also

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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