Balyasny Asset Management L.P. Acquires New Holdings in Sealed Air Co. (NYSE:SEE)

Balyasny Asset Management L.P. acquired a new stake in Sealed Air Co. (NYSE:SEEFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,366,110 shares of the industrial products company’s stock, valued at approximately $86,410,000. Balyasny Asset Management L.P. owned about 1.64% of Sealed Air as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in Sealed Air during the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC acquired a new position in Sealed Air during the 4th quarter valued at about $29,000. Massmutual Trust Co. FSB ADV increased its stake in Sealed Air by 81.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock valued at $36,000 after buying an additional 449 shares during the period. CoreFirst Bank & Trust acquired a new position in Sealed Air during the 3rd quarter valued at about $42,000. Finally, Signaturefd LLC increased its stake in Sealed Air by 43.2% during the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after buying an additional 462 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Performance

Shares of SEE opened at $38.52 on Tuesday. Sealed Air Co. has a one year low of $28.50 and a one year high of $47.12. The company has a 50-day moving average of $35.44 and a two-hundred day moving average of $35.51. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.47 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80.

Sealed Air (NYSE:SEEGet Free Report) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts expect that Sealed Air Co. will post 2.89 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, June 14th. Sealed Air’s dividend payout ratio is currently 32.13%.

Analyst Ratings Changes

Several research firms have commented on SEE. Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and raised their target price for the company from $39.00 to $44.00 in a research note on Monday, April 8th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Wolfe Research started coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Finally, Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.90.

Get Our Latest Research Report on SEE

Sealed Air Profile

(Free Report)

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.

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

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