Swedbank AB Invests $53.68 Million in Sealed Air Co. (NYSE:SEE)

Swedbank AB purchased a new stake in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,478,814 shares of the industrial products company’s stock, valued at approximately $53,681,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SEE. Sound Income Strategies LLC grew its position in shares of Sealed Air by 9.0% in the 3rd quarter. Sound Income Strategies LLC now owns 69,795 shares of the industrial products company’s stock worth $2,534,000 after buying an additional 5,785 shares during the last quarter. Sendero Wealth Management LLC raised its stake in shares of Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 550 shares during the last quarter. CWM LLC increased its position in Sealed Air by 81.4% during the third quarter. CWM LLC now owns 5,961 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 2,675 shares during the last quarter. Kwmg LLC grew its holdings in Sealed Air by 4.2% during the third quarter. Kwmg LLC now owns 130,010 shares of the industrial products company’s stock valued at $4,719,000 after purchasing an additional 5,269 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sealed Air during the second quarter valued at about $105,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SEE. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered shares of Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus began coverage on shares of Sealed Air in a report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Sealed Air presently has an average rating of “Hold” and an average price target of $41.00.

Sealed Air Stock Performance

Sealed Air stock opened at $34.99 on Wednesday. The stock has a market cap of $5.10 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 8.72 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The stock has a 50 day moving average of $34.52 and a 200-day moving average of $35.30. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. On average, analysts expect that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.29%. Sealed Air’s dividend payout ratio (DPR) 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.