Cardinal Capital Management Acquires 5,586 Shares of Sealed Air Co. (NYSE:SEE)

Cardinal Capital Management increased its holdings in shares of Sealed Air Co. (NYSE:SEE) by 20.1% during the 1st quarter, HoldingsChannel reports. The firm owned 33,311 shares of the industrial products company’s stock after purchasing an additional 5,586 shares during the period. Cardinal Capital Management’s holdings in Sealed Air were worth $1,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Sealed Air by 0.5% during the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after buying an additional 92,114 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Sealed Air by 2,549.6% in 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 during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Sealed Air in the fourth quarter worth $86,410,000. Earnest Partners LLC boosted its holdings in Sealed Air by 16.3% during the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock worth $70,975,000 after purchasing an additional 302,099 shares during the last quarter. Finally, Northern Trust Corp grew its position in Sealed Air by 7.4% in the third quarter. Northern Trust Corp now owns 1,863,751 shares of the industrial products company’s stock valued at $61,243,000 after purchasing an additional 128,830 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SEE has been the topic of several analyst reports. Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $50.00 in a research report on Thursday, June 6th. Wolfe Research began coverage on Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Truist Financial restated a “buy” rating and issued a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. Finally, William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and a consensus target price of $44.90.

Sealed Air Price Performance

Shares of SEE opened at $35.16 on Friday. The company’s 50-day moving average is $36.42 and its 200-day moving average is $35.82. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80. The firm has a market capitalization of $5.12 billion, a PE ratio of 14.12, a PEG ratio of 3.19 and a beta of 1.35. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $47.12.

Sealed Air (NYSE:SEE) last released its quarterly earnings results 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. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Sealed Air Co. will post 2.89 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. Sealed Air’s payout ratio is presently 32.13%.

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.