Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 38,100 Sealed Air Co. (NYSE:SEE)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Sealed Air Co. (NYSE:SEE) during the third quarter, HoldingsChannel.com reports. The fund bought 38,100 shares of the industrial products company’s stock, valued at approximately $1,383,000.

Other hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in Sealed Air by 90.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company’s stock worth $1,804,000 after acquiring an additional 23,029 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Sealed Air during the 3rd quarter valued at approximately $1,497,000. Deprince Race & Zollo Inc. raised its holdings in Sealed Air by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after buying an additional 24,940 shares during the period. Van ECK Associates Corp bought a new stake in Sealed Air in the second quarter worth $2,098,000. Finally, Commerce Bank boosted its stake in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after buying an additional 14,766 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Truist Financial cut their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Morgan Stanley started coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Up 1.0 %

NYSE:SEE opened at $36.60 on Monday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a 50-day moving average of $35.84 and a 200 day moving average of $35.81. The firm has a market cap of $5.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, research analysts anticipate that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

About Sealed Air

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.