Pacer Advisors Inc. Invests $139.80 Million in Sealed Air Co. (NYSE:SEE)

Pacer Advisors Inc. bought a new stake in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,851,252 shares of the industrial products company’s stock, valued at approximately $139,800,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB acquired a new position in Sealed Air during the 3rd quarter worth about $53,681,000. Millennium Management LLC increased its stake in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after acquiring an additional 1,136,985 shares during the last quarter. Appian Way Asset Management LP bought a new stake in shares of Sealed Air in the 1st quarter valued at about $29,877,000. Vanguard Group Inc. increased its stake in shares of Sealed Air by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after acquiring an additional 600,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after acquiring an additional 479,675 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Trading Up 0.7 %

NYSE SEE opened at $35.06 on Thursday. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The stock has a 50 day moving average of $35.59 and a 200-day moving average of $35.87. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market cap of $5.11 billion, a PE ratio of 12.89, a PEG ratio of 4.81 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Sealed Air Co. will post 3.07 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SEE. Truist Financial lowered their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Morgan Stanley assumed coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Wells Fargo & Company upped their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Company 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.