Fmr LLC Has $22.74 Million Stock Position in Sealed Air Co. (NYSE:SEE)

Fmr LLC grew its stake in Sealed Air Co. (NYSE:SEE) by 28.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 626,348 shares of the industrial products company’s stock after purchasing an additional 137,073 shares during the quarter. Fmr LLC owned about 0.43% of Sealed Air worth $22,736,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Sealed Air in the 3rd quarter valued at $139,800,000. Dimensional Fund Advisors LP lifted its stake in shares of Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the period. Deprince Race & Zollo Inc. lifted its stake in shares of Sealed Air by 1.4% in 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 purchasing an additional 24,940 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Sealed Air by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after purchasing an additional 502,999 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

SEE has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. Finally, Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Seven investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Price Performance

Shares of NYSE SEE opened at $37.23 on Tuesday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 5.05 and a beta of 1.34. The business has a 50-day moving average of $35.94 and a 200-day moving average of $35.73. 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 fifty-two week low of $30.87 and a fifty-two week high of $41.14.

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

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date 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.