Quent Capital LLC Acquires 700 Shares of Sealed Air Co. (NYSE:SEE)

Quent Capital LLC lifted its position in Sealed Air Co. (NYSE:SEE) by 10.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,255 shares of the industrial products company’s stock after purchasing an additional 700 shares during the period. Quent Capital LLC’s holdings in Sealed Air were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Compass Wealth Management LLC bought a new position in shares of Sealed Air in the fourth quarter worth approximately $25,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Sealed Air by 251.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 742 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 531 shares during the last quarter. Sandy Spring Bank bought a new position in shares of Sealed Air in the fourth quarter worth approximately $42,000. Brown Brothers Harriman & Co. grew its holdings in shares of Sealed Air by 137.7% in the first quarter. Brown Brothers Harriman & Co. now owns 863 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Sealed Air in the first quarter worth approximately $43,000. Institutional investors own 89.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Sealed Air from $49.00 to $46.00 in a report on Thursday, August 10th. Credit Suisse Group raised Sealed Air from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $59.00 to $47.00 in a research report on Wednesday. Robert W. Baird raised Sealed Air from a “neutral” rating to an “outperform” rating and set a $49.00 price objective for the company in a research report on Wednesday, July 12th. UBS Group lowered Sealed Air from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research report on Friday, August 11th. Finally, StockNews.com assumed coverage on Sealed Air in a research report on Thursday, August 17th. They set a “hold” rating for the company. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air presently has a consensus rating of “Hold” and an average target price of $44.64.

Insider Buying and Selling at Sealed Air

In other news, CEO Edward L. Doheny II purchased 10,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $33.85 per share, for a total transaction of $338,500.00. Following the purchase, the chief executive officer now directly owns 658,360 shares in the company, valued at approximately $22,285,486. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.44% of the company’s stock.

Sealed Air Price Performance

NYSE SEE opened at $35.11 on Friday. Sealed Air Co. has a one year low of $33.45 and a one year high of $56.43. The stock has a 50-day moving average of $39.71 and a 200 day moving average of $41.94. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 7.73 and a beta of 1.29. The company has a debt-to-equity ratio of 11.24, a quick ratio of 0.69 and a current ratio of 1.20.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Sealed Air had a return on equity of 154.56% and a net margin of 7.04%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the company earned $1.01 EPS. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts forecast that Sealed Air Co. will post 2.86 EPS for the current year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. Sealed Air’s dividend payout ratio is currently 29.85%.

About Sealed Air

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. 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.