Sciencast Management LP Buys 16,164 Shares of Sealed Air Co. (NYSE:SEE)

Sciencast Management LP increased its stake in Sealed Air Co. (NYSE:SEE) by 173.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,474 shares of the industrial products company’s stock after purchasing an additional 16,164 shares during the period. Sciencast Management LP’s holdings in Sealed Air were worth $948,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Sealed Air by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after buying an additional 92,114 shares during the period. Hsbc Holdings PLC raised its position in Sealed Air by 2,549.6% during the fourth quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after purchasing an additional 5,138,700 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Sealed Air during the fourth quarter worth $86,410,000. Norges Bank acquired a new stake in shares of Sealed Air in the 4th quarter valued at $52,968,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sealed Air by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,129 shares of the industrial products company’s stock valued at $49,310,000 after purchasing an additional 138,197 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Trading Up 1.5 %

NYSE SEE traded up $0.54 during trading hours on Friday, hitting $35.85. 1,015,357 shares of the company’s stock were exchanged, compared to its average volume of 1,525,237. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $47.12. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. The stock has a 50-day simple moving average of $36.93 and a 200 day simple moving average of $35.74. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 3.11 and a beta of 1.35.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.25. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. Sealed Air’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities analysts forecast that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup dropped their price objective on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Mizuho upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $50.00 in a research report on Thursday, June 6th. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $44.00 price target on shares of Sealed Air in a report on Monday, June 17th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Sealed Air Profile

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.