18,862 Shares in Sealed Air Co. (NYSE:SEE) Purchased by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC bought a new position in Sealed Air Co. (NYSE:SEE) during the third quarter, Holdings Channel reports. The firm bought 18,862 shares of the industrial products company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Everence Capital Management Inc. increased its stake in Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock valued at $506,000 after buying an additional 380 shares during the last quarter. United Services Automobile Association increased its stake in Sealed Air by 3.5% in the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after buying an additional 393 shares during the last quarter. Raymond James Trust N.A. increased its stake in Sealed Air by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock valued at $509,000 after buying an additional 466 shares during the last quarter. Mount Yale Investment Advisors LLC increased its stake in Sealed Air by 1.3% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after buying an additional 467 shares during the last quarter. Finally, Sendero Wealth Management LLC increased its stake in Sealed Air by 7.2% in the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Up 1.8 %

SEE opened at $37.30 on Thursday. The company has a 50 day moving average of $35.88 and a 200 day moving average of $35.76. The company has a market cap of $5.43 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 5.07 and a beta of 1.34. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

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

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SEE shares. Truist Financial decreased their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com downgraded shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Company 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.