MML Investors Services LLC Increases Stock Holdings in Sealed Air Co. (NYSE:SEE)

Posted by on Mar 2nd, 2023

MML Investors Services LLC lifted its stake in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,981 shares of the industrial products company’s stock after buying an additional 2,195 shares during the quarter. MML Investors Services LLC’s holdings in Sealed Air were worth $1,423,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. State of Michigan Retirement System raised its holdings in shares of Sealed Air by 5.6% during the 2nd quarter. State of Michigan Retirement System now owns 39,403 shares of the industrial products company’s stock valued at $2,274,000 after buying an additional 2,100 shares during the period. Prudential PLC raised its holdings in shares of Sealed Air by 14.5% during the 3rd quarter. Prudential PLC now owns 5,527 shares of the industrial products company’s stock valued at $246,000 after buying an additional 699 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Sealed Air during the 3rd quarter valued at about $100,000. M&T Bank Corp increased its holdings in Sealed Air by 18.7% during the 2nd quarter. M&T Bank Corp now owns 14,334 shares of the industrial products company’s stock worth $717,000 after purchasing an additional 2,259 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in Sealed Air during the 2nd quarter worth approximately $216,000. 89.63% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Trading Up 0.6 %

NYSE:SEE opened at $48.92 on Thursday. Sealed Air Co. has a 12-month low of $41.24 and a 12-month high of $70.72. The firm has a market capitalization of $7.04 billion, a P/E ratio of 14.65, a P/E/G ratio of 4.22 and a beta of 1.24. The company has a debt-to-equity ratio of 9.41, a current ratio of 1.02 and a quick ratio of 0.60. The business has a 50 day simple moving average of $51.72 and a 200 day simple moving average of $50.64.

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

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. Sealed Air’s dividend payout ratio (DPR) is presently 23.95%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th. Truist Financial downgraded Sealed Air from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a report on Thursday, January 5th. UBS Group downgraded Sealed Air from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $59.00 in a report on Tuesday, January 24th. Royal Bank of Canada decreased their target price on Sealed Air from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Finally, Mizuho decreased their target price on Sealed Air from $61.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Sealed Air has an average rating of “Hold” and a consensus price target of $57.82.

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.

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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