Impax Asset Management Group plc Acquires New Shares in Sealed Air Co. (NYSE:SEE)

Impax Asset Management Group plc bought a new position in shares of Sealed Air Co. (NYSE:SEE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 538,281 shares of the industrial products company’s stock, valued at approximately $18,210,000.

Several other institutional investors also recently modified their holdings of the stock. Manchester Capital Management LLC raised its position in shares of Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC increased its stake in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sealed Air in the fourth quarter worth $45,000. Acuitas Investments LLC boosted its position in shares of Sealed Air by 64.3% during the fourth quarter. Acuitas Investments LLC now owns 2,300 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 900 shares in the last quarter. Finally, Quarry LP grew its holdings 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 buying an additional 311 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

NYSE SEE opened at $32.13 on Tuesday. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The firm’s 50 day moving average is $34.17 and its 200-day moving average is $34.90. The company has a market capitalization of $4.68 billion, a PE ratio of 11.81 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.49%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Analyst Ratings Changes

Several brokerages recently commented on SEE. Wells Fargo & Company dropped their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Bank of America lowered their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group cut their price objective on Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Morgan Stanley lowered their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.

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.