Sealed Air Co. (NYSE:SEE) Position Raised by Raymond James & Associates

Raymond James & Associates increased its position in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 15.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 152,638 shares of the industrial products company’s stock after buying an additional 20,131 shares during the quarter. Raymond James & Associates’ holdings in Sealed Air were worth $7,614,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEE. Renaissance Technologies LLC raised its holdings in Sealed Air by 93.7% during the first quarter. Renaissance Technologies LLC now owns 583,221 shares of the industrial products company’s stock worth $39,052,000 after purchasing an additional 282,200 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Sealed Air in the fourth quarter valued at $13,729,000. Lodge Hill Capital LLC increased its holdings in shares of Sealed Air by 81.8% in the third quarter. Lodge Hill Capital LLC now owns 500,000 shares of the industrial products company’s stock valued at $22,255,000 after buying an additional 225,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Sealed Air by 134.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 378,352 shares of the industrial products company’s stock valued at $18,872,000 after buying an additional 216,806 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Sealed Air by 21.2% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,157,315 shares of the industrial products company’s stock valued at $51,512,000 after buying an additional 202,073 shares in the last quarter. Institutional investors own 89.63% of the company’s stock.

Sealed Air Trading Up 0.4 %

Sealed Air stock opened at $42.35 on Friday. The company’s fifty day simple moving average is $44.80 and its 200-day simple moving average is $48.73. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 13.39. Sealed Air Co. has a 12 month low of $41.15 and a 12 month high of $64.07. The stock has a market cap of $6.11 billion, a P/E ratio of 15.29, a P/E/G ratio of 4.97 and a beta of 1.23.

Sealed Air (NYSE:SEE – Get Rating) last posted its earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 196.19% and a net margin of 7.25%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, sell-side analysts forecast that Sealed Air Co. will post 3.57 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, June 8th. Sealed Air’s payout ratio is 28.88%.

Wall Street Analyst Weigh In

SEE has been the topic of several research reports. StockNews.com initiated coverage on Sealed Air in a report on Thursday. They issued a “hold” rating on the stock. Credit Suisse Group dropped their price target on Sealed Air from $64.00 to $59.00 and set a “neutral” rating on the stock in a report on Monday, February 13th. Morgan Stanley cut Sealed Air from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $60.00 to $48.00 in a report on Tuesday, May 9th. Mizuho cut their target price on shares of Sealed Air from $58.00 to $56.00 in a research note on Wednesday, May 3rd. Finally, UBS Group raised shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Wednesday, April 5th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.27.

Sealed Air Profile

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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.