Appian Way Asset Management LP Purchases 546,701 Shares of Sealed Air Co. (NYSE:SEE)

Appian Way Asset Management LP increased its position in shares of Sealed Air Co. (NYSE:SEE) by 68.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,349,857 shares of the industrial products company’s stock after buying an additional 546,701 shares during the quarter. Sealed Air accounts for about 12.0% of Appian Way Asset Management LP’s portfolio, making the stock its biggest holding. Appian Way Asset Management LP owned about 0.93% of Sealed Air worth $46,962,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kiltearn Partners LLP raised its holdings in Sealed Air by 35.5% during the second quarter. Kiltearn Partners LLP now owns 531,000 shares of the industrial products company’s stock worth $18,473,000 after acquiring an additional 139,100 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Sealed Air by 8.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 324,038 shares of the industrial products company’s stock worth $11,273,000 after purchasing an additional 24,318 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Sealed Air by 1.3% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after buying an additional 467 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Sealed Air by 22.4% during the second quarter. Thrivent Financial for Lutherans now owns 153,716 shares of the industrial products company’s stock worth $5,348,000 after buying an additional 28,148 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new stake in Sealed Air in the second quarter valued at $4,090,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEE. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their target price for the company from $47.00 to $35.00 in a report on Friday, August 9th. Stifel Nicolaus started coverage on shares of Sealed Air in a research report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 target price for the company. Royal Bank of Canada cut Sealed Air from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Truist Financial reissued a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. Finally, Citigroup decreased their price objective on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday, July 8th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.30.

Sealed Air Stock Up 0.9 %

Sealed Air stock opened at $35.41 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The firm’s fifty day moving average price is $34.86 and its two-hundred day moving average price is $35.39. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 8.59 and a beta of 1.34. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data 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 firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company posted $0.80 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s payout ratio is currently 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.