Pacer Advisors Inc. Takes Position in Sealed Air Co. (NYSE:SEE)

Pacer Advisors Inc. bought a new stake in Sealed Air Co. (NYSE:SEE) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 3,851,252 shares of the industrial products company’s stock, valued at approximately $139,800,000. Pacer Advisors Inc. owned about 2.64% of Sealed Air at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Sealed Air by 3.7% in the first 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 in the last quarter. Millennium Management LLC raised its position in Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares during the last quarter. Earnest Partners LLC raised its position in Sealed Air by 7.3% during the first quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after acquiring an additional 170,846 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sealed Air by 33.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after acquiring an additional 479,675 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of Sealed Air by 1.4% in the second 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 last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Price Performance

NYSE SEE opened at $35.06 on Thursday. The company has a 50 day simple moving average of $35.59 and a 200-day simple moving average of $35.87. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 4.81 and a beta of 1.34. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that Sealed Air Co. will post 3.07 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SEE shares. Morgan Stanley started coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. cut their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Wells Fargo & Company increased their target price 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. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.