Cetera Investment Advisers Purchases 1,568 Shares of Sealed Air Corporation $SEE

Cetera Investment Advisers lifted its position in shares of Sealed Air Corporation (NYSE:SEE) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,659 shares of the industrial products company’s stock after purchasing an additional 1,568 shares during the period. Cetera Investment Advisers’ holdings in Sealed Air were worth $453,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SEE. T. Rowe Price Investment Management Inc. lifted its position in shares of Sealed Air by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company’s stock valued at $416,657,000 after purchasing an additional 1,081,848 shares in the last quarter. Victory Capital Management Inc. raised its position in Sealed Air by 42.1% in the first quarter. Victory Capital Management Inc. now owns 2,864,927 shares of the industrial products company’s stock worth $82,796,000 after acquiring an additional 849,485 shares during the period. Raymond James Financial Inc. bought a new stake in Sealed Air in the fourth quarter worth about $16,841,000. Wellington Management Group LLP raised its position in Sealed Air by 168.3% in the fourth quarter. Wellington Management Group LLP now owns 466,785 shares of the industrial products company’s stock worth $15,791,000 after acquiring an additional 292,826 shares during the period. Finally, Northern Trust Corp raised its position in Sealed Air by 21.3% in the fourth quarter. Northern Trust Corp now owns 1,642,371 shares of the industrial products company’s stock worth $55,561,000 after acquiring an additional 288,528 shares during the period. 94.40% of the stock is owned by institutional investors.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $31.51 on Monday. The company has a 50 day moving average of $31.01 and a 200 day moving average of $30.61. The stock has a market cap of $4.63 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.47 and a beta of 1.33. Sealed Air Corporation has a 12 month low of $22.78 and a 12 month high of $38.85. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 4.18.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.72 by $0.17. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. Sealed Air’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air’s payout ratio is currently 40.40%.

Analyst Ratings Changes

Several analysts have commented on SEE shares. Truist Financial lifted their price objective on shares of Sealed Air from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Mizuho lifted their price objective on shares of Sealed Air from $34.00 to $37.00 and gave the stock an “outperformer” rating in a research report on Tuesday, July 15th. Citigroup lifted their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group lifted their target price on shares of Sealed Air from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Two 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

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.