JPMorgan Chase & Co. Increases Position in Sealed Air Co. (NYSE:SEE)

JPMorgan Chase & Co. increased its holdings in Sealed Air Co. (NYSE:SEE) by 90.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,510,529 shares of the industrial products company’s stock after acquiring an additional 715,668 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sealed Air were worth $51,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SEE. Quarry LP raised its position in shares of Sealed Air by 9.2% in the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 311 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Sealed Air by 0.8% during the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock worth $1,430,000 after purchasing an additional 348 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in Sealed Air by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company’s stock worth $1,470,000 after purchasing an additional 350 shares in the last quarter. Choreo LLC increased its holdings in Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after buying an additional 351 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of Sealed Air by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 10.0 %

Shares of NYSE:SEE opened at $24.39 on Friday. The firm has a 50 day simple moving average of $31.89 and a 200 day simple moving average of $34.17. Sealed Air Co. has a 52 week low of $24.35 and a 52 week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market cap of $3.55 billion, a PE ratio of 8.97 and a beta of 1.32.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s payout ratio is presently 44.20%.

Wall Street Analysts Forecast Growth

SEE has been the topic of several research reports. UBS Group upped their price target on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Bank of America lowered their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Sealed Air Profile

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.