Sealed Air Co. (NYSE:SEE) Stake Boosted by Pictet Asset Management SA

Posted by Defense World Staff on Feb 26th, 2023

Pictet Asset Management SA increased its position in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,282 shares of the industrial products company’s stock after purchasing an additional 770 shares during the quarter. Pictet Asset Management SA’s holdings in Sealed Air were worth $2,638,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Premier Fund Managers Ltd lifted its stake in Sealed Air by 6.8% in the second quarter. Premier Fund Managers Ltd now owns 31,300 shares of the industrial products company’s stock valued at $40,000 after buying an additional 2,000 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in Sealed Air in the second quarter valued at $42,000. Wipfli Financial Advisors LLC bought a new stake in Sealed Air in the third quarter valued at $45,000. CWM LLC lifted its stake in Sealed Air by 17.5% in the third quarter. CWM LLC now owns 1,464 shares of the industrial products company’s stock valued at $65,000 after buying an additional 218 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in Sealed Air by 334.1% in the first quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock valued at $66,000 after buying an additional 755 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Sealed Air from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. StockNews.com cut Sealed Air from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Wells Fargo & Company lifted their price objective on shares of Sealed Air from $43.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. UBS Group cut shares of Sealed Air from a “buy” rating to a “neutral” rating and cut their price objective for the company from $65.00 to $59.00 in a research note on Tuesday, January 24th. Finally, Royal Bank of Canada cut their price objective on shares of Sealed Air from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 2nd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.82.

Sealed Air Price Performance

NYSE:SEE opened at $49.06 on Friday. The business’s 50-day moving average price is $51.78 and its 200 day moving average price is $50.82. The firm has a market cap of $7.06 billion, a P/E ratio of 14.69, a PEG ratio of 4.26 and a beta of 1.24. Sealed Air Co. has a 52-week low of $41.24 and a 52-week high of $70.72. The company has a quick ratio of 0.60, a current ratio of 1.02 and a debt-to-equity ratio of 9.41.

Sealed Air (NYSE:SEE – Get Rating) last released its earnings results on Thursday, February 9th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. Sealed Air had a return on equity of 254.05% and a net margin of 8.71%. Sealed Air’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. As a group, sell-side analysts predict that Sealed Air Co. will post 3.66 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Thursday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.63%. Sealed Air’s dividend payout ratio is currently 23.95%.

Sealed Air Profile

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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food segment and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.