Bayesian Capital Management LP Takes Position in Sealed Air Co. (NYSE:SEE)

Bayesian Capital Management LP acquired a new stake in shares of Sealed Air Co. (NYSE:SEE) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,300 shares of the industrial products company’s stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SEE. Fidelis Capital Partners LLC purchased a new stake in shares of Sealed Air during the 1st quarter valued at $31,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Sealed Air during the 1st quarter valued at $52,000. Signaturefd LLC raised its position in shares of 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 in the last quarter. Covestor Ltd raised its position in shares of Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Sealed Air during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEE. Stifel Nicolaus started coverage on shares of Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $44.00 target price on shares of Sealed Air in a research report on Monday, June 17th. UBS Group decreased their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.33.

Sealed Air Stock Down 0.5 %

Shares of SEE stock traded down $0.19 on Wednesday, hitting $37.60. The stock had a trading volume of 20,926 shares, compared to its average volume of 1,483,752. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The business has a 50 day moving average price of $36.62 and a 200 day moving average price of $35.73. The company has a market cap of $5.48 billion, a PE ratio of 15.17, a P/E/G ratio of 4.63 and a beta of 1.35. Sealed Air Co. has a one year low of $28.50 and a one year high of $46.35.

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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. Research analysts anticipate that Sealed Air Co. will post 2.86 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.13%. Sealed Air’s payout ratio is 32.13%.

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.