Paloma Partners Management Co Takes $709,000 Position in Sealed Air Co. (NYSE:SEE)

Paloma Partners Management Co purchased a new position in shares of Sealed Air Co. (NYSE:SEE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,519 shares of the industrial products company’s stock, valued at approximately $709,000.

Other large investors have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in Sealed Air during the 2nd quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air in the second quarter worth about $34,000. Allspring Global Investments Holdings LLC boosted its holdings in Sealed Air by 100.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sealed Air during the 2nd quarter worth approximately $105,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SEE shares. Morgan Stanley assumed coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada reduced their price target 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. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Finally, Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Trading Up 0.1 %

Shares of NYSE:SEE opened at $36.65 on Wednesday. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market cap of $5.34 billion, a PE ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. The company’s 50-day moving average price is $35.86 and its 200 day moving average price is $35.77.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (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 business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.18%. 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.