Everence Capital Management Inc. Makes New Investment in Sealed Air Co. (NYSE:SEE)

Everence Capital Management Inc. purchased a new position in shares of Sealed Air Co. (NYSE:SEE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,740 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other institutional investors have also recently made changes to their positions in SEE. BlackRock Inc. increased its position in shares of Sealed Air by 13.7% during the 1st quarter. BlackRock Inc. now owns 24,679,011 shares of the industrial products company’s stock worth $1,133,013,000 after purchasing an additional 2,965,808 shares during the last quarter. Invesco Ltd. increased its position in shares of Sealed Air by 70.1% during the 3rd quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after purchasing an additional 2,159,143 shares during the last quarter. Norges Bank acquired a new position in shares of Sealed Air during the 4th quarter worth approximately $73,895,000. Schonfeld Strategic Advisors LLC increased its position in shares of Sealed Air by 6,889.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 563,488 shares of the industrial products company’s stock worth $18,516,000 after purchasing an additional 555,426 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Sealed Air by 65.7% during the 3rd quarter. Victory Capital Management Inc. now owns 1,217,884 shares of the industrial products company’s stock worth $40,020,000 after purchasing an additional 482,974 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SEE. Mizuho decreased their target price on Sealed Air from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Wolfe Research began coverage on Sealed Air in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Wells Fargo & Company raised Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and boosted their target price for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Sealed Air currently has an average rating of “Hold” and a consensus target price of $44.18.

Sealed Air Stock Performance

Shares of NYSE SEE opened at $31.50 on Friday. The company has a debt-to-equity ratio of 8.21, a current ratio of 1.30 and a quick ratio of 0.79. The stock’s fifty day moving average price is $35.10 and its two-hundred day moving average price is $34.25. Sealed Air Co. has a one year low of $28.50 and a one year high of $48.44. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.62 and a beta of 1.28.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that Sealed Air Co. will post 2.85 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. Sealed Air’s payout ratio is 33.90%.

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.