Park Avenue Securities LLC Acquires 1,202 Shares of Sealed Air Co. (NYSE:SEE)

Park Avenue Securities LLC increased its holdings in Sealed Air Co. (NYSE:SEE) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,683 shares of the industrial products company’s stock after acquiring an additional 1,202 shares during the quarter. Park Avenue Securities LLC’s holdings in Sealed Air were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SEE. Hsbc Holdings PLC increased its stake in shares of Sealed Air by 2,549.6% in the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock worth $195,720,000 after acquiring an additional 5,138,700 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Sealed Air in the 4th quarter worth about $86,410,000. Norges Bank bought a new position in shares of Sealed Air in the 4th quarter worth about $52,968,000. Principal Financial Group Inc. increased its stake in shares of Sealed Air by 343.8% in the 4th quarter. Principal Financial Group Inc. now owns 751,699 shares of the industrial products company’s stock worth $27,452,000 after acquiring an additional 582,331 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Sealed Air by 6,889.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 563,488 shares of the industrial products company’s stock worth $18,516,000 after acquiring an additional 555,426 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. William Blair reissued a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. Finally, Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $50.00 in a research report on Thursday, June 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.90.

Sealed Air Stock Performance

SEE opened at $34.79 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.19 and a beta of 1.35. The company’s 50 day moving average is $36.49 and its 200 day moving average is $35.82. Sealed Air Co. has a 12-month low of $28.50 and a 12-month high of $47.12.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that Sealed Air Co. will post 2.89 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, June 14th. Sealed Air’s payout ratio is 32.13%.

Sealed Air 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.