Sequoia Financial Advisors LLC Buys 1,474 Shares of Sealed Air Co. (NYSE:SEE)

Posted by Defense World Staff on Jul 13th, 2023

Sequoia Financial Advisors LLC lifted its stake in Sealed Air Co. (NYSE:SEE – Free Report) by 15.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,868 shares of the industrial products company’s stock after buying an additional 1,474 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sealed Air were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Sealed Air by 0.6% in the third quarter. Vanguard Group Inc. now owns 16,576,676 shares of the industrial products company’s stock worth $737,828,000 after buying an additional 97,907 shares during the period. Geode Capital Management LLC raised its stake in shares of Sealed Air by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,977,027 shares of the industrial products company’s stock worth $148,229,000 after buying an additional 97,945 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Sealed Air by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,513,313 shares of the industrial products company’s stock valued at $125,364,000 after purchasing an additional 116,134 shares during the period. Invesco Ltd. raised its stake in Sealed Air by 8.1% during the 1st quarter. Invesco Ltd. now owns 1,864,897 shares of the industrial products company’s stock valued at $124,874,000 after purchasing an additional 140,270 shares during the period. Finally, Earnest Partners LLC raised its stake in Sealed Air by 0.8% during the 4th quarter. Earnest Partners LLC now owns 1,485,548 shares of the industrial products company’s stock valued at $74,099,000 after purchasing an additional 11,757 shares during the period. Institutional investors own 87.91% of the company’s stock.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $43.65 on Thursday. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 7.67 and a beta of 1.24. The company has a debt-to-equity ratio of 13.39, a quick ratio of 0.64 and a current ratio of 1.19. The stock has a 50 day moving average price of $40.51 and a 200-day moving average price of $46.00. Sealed Air Co. has a one year low of $37.34 and a one year high of $62.14.

Sealed Air (NYSE:SEE – Get Free Report) last announced its earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a return on equity of 196.19% and a net margin of 7.25%. Sealed Air’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. Equities analysts expect that Sealed Air Co. will post 3.49 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, June 8th. Sealed Air’s payout ratio is currently 28.88%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEE. Royal Bank of Canada decreased their target price on Sealed Air from $58.00 to $54.00 in a research note on Thursday, May 4th. StockNews.com began coverage on Sealed Air in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho decreased their target price on Sealed Air from $56.00 to $49.00 in a research note on Wednesday, May 31st. Bank of America raised Sealed Air from a “neutral” rating to a “buy” rating and decreased their target price for the company from $61.00 to $52.00 in a research note on Monday. Finally, Citigroup decreased their target price on Sealed Air from $48.00 to $43.00 in a research note on Monday. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Sealed Air Profile

(Free Report)

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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

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