First Eagle Investment Management LLC Has $13.84 Million Position in Sealed Air Co. (NYSE:SEE)

First Eagle Investment Management LLC raised its stake in shares of Sealed Air Co. (NYSE:SEE) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,912 shares of the industrial products company’s stock after purchasing an additional 17,500 shares during the period. First Eagle Investment Management LLC owned 0.27% of Sealed Air worth $13,843,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Family Firm Inc. acquired a new position in Sealed Air in the 2nd quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Sealed Air during the 1st quarter worth about $31,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sealed Air during the 1st quarter worth about $52,000. Covestor Ltd boosted its stake in Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,400 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Sealed Air in the 4th quarter valued at approximately $61,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

Shares of NYSE:SEE opened at $35.60 on Friday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 8.59 and a beta of 1.34. The business’s fifty day moving average price is $34.87 and its two-hundred day moving average price is $35.39. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company earned $0.80 EPS. Sealed Air’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts predict that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.25%. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SEE shares. Wells Fargo & Company increased their price objective on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. UBS Group reduced their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.30.

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.