Kestra Private Wealth Services LLC Raises Stock Holdings in Sealed Air Co. (NYSE:SEE)

Kestra Private Wealth Services LLC grew its holdings in Sealed Air Co. (NYSE:SEEGet Rating) by 16.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,904 shares of the industrial products company’s stock after buying an additional 975 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Sealed Air were worth $462,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Sealed Air by 117.6% during the fourth quarter. JPMorgan Chase & Co. now owns 522,209 shares of the industrial products company’s stock valued at $35,233,000 after purchasing an additional 282,187 shares in the last quarter. Ensign Peak Advisors Inc increased its stake in Sealed Air by 34.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 41,290 shares of the industrial products company’s stock worth $2,786,000 after buying an additional 10,532 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sealed Air by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,363 shares of the industrial products company’s stock valued at $75,254,000 after acquiring an additional 17,802 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sealed Air by 107.0% in the fourth quarter. Renaissance Technologies LLC now owns 301,021 shares of the industrial products company’s stock worth $20,310,000 after acquiring an additional 155,612 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Sealed Air by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,768,451 shares of the industrial products company’s stock worth $186,294,000 after purchasing an additional 22,136 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Up 1.8 %

NYSE:SEE opened at $49.53 on Tuesday. Sealed Air Co. has a 52 week low of $47.89 and a 52 week high of $70.72. The company has a quick ratio of 0.72, a current ratio of 1.34 and a debt-to-equity ratio of 18.30. The stock’s fifty day moving average is $56.18 and its two-hundred day moving average is $60.92. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17.

Sealed Air (NYSE:SEEGet Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a return on equity of 320.73% and a net margin of 9.56%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $0.79 EPS. Sealed Air’s revenue was up 6.7% compared to the same quarter last year. Research analysts anticipate that Sealed Air Co. will post 4.15 EPS for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, September 8th. Sealed Air’s payout ratio is currently 21.74%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SEE shares. Mizuho lowered their target price on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 3rd. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research note on Wednesday, July 20th. Morgan Stanley dropped their price target on Sealed Air from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, August 4th. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research report on Thursday, July 7th. Finally, Royal Bank of Canada raised Sealed Air from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $66.00 to $70.00 in a research note on Wednesday, August 3rd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.18.

Insider Activity at Sealed Air

In other news, SVP Sergio A. Pupkin bought 1,000 shares of Sealed Air stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average price of $57.66 per share, with a total value of $57,660.00. Following the completion of the acquisition, the senior vice president now directly owns 45,748 shares in the company, valued at $2,637,829.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Sergio A. Pupkin acquired 1,000 shares of Sealed Air stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $57.66 per share, for a total transaction of $57,660.00. Following the acquisition, the senior vice president now owns 45,748 shares of the company’s stock, valued at $2,637,829.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Henry R. Keizer bought 500 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average price of $55.25 per share, with a total value of $27,625.00. Following the purchase, the director now owns 20,763 shares of the company’s stock, valued at approximately $1,147,155.75. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 7,000 shares of company stock worth $395,640. Company insiders own 0.44% of the company’s stock.

About Sealed Air

(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.

Further Reading

Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Co. (NYSE:SEEGet Rating).

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

Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.