JPMorgan Chase & Co. Buys 662,606 Shares of Sealed Air Co. (NYSE:SEE)

JPMorgan Chase & Co. lifted its stake in shares of Sealed Air Co. (NYSE:SEE) by 501.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 794,861 shares of the industrial products company’s stock after purchasing an additional 662,606 shares during the quarter. JPMorgan Chase & Co. owned about 0.55% of Sealed Air worth $28,853,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SEE. Strategic Investment Solutions Inc. IL bought a new position in shares of Sealed Air in the second quarter valued at $34,000. Northwestern Mutual Wealth Management Co. lifted its position in Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 2,445 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sealed Air during the 2nd quarter valued at about $105,000. Quarry LP increased its holdings in Sealed Air by 230.1% during the 2nd quarter. Quarry LP now owns 3,390 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 2,363 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Sealed Air by 20.1% in the third quarter. KBC Group NV now owns 4,595 shares of the industrial products company’s stock worth $167,000 after purchasing an additional 769 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEE. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Citigroup reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Bank of America reduced their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial lifted their target price on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air presently has a consensus rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Price Performance

Shares of NYSE SEE opened at $34.20 on Wednesday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The stock has a fifty day simple moving average of $35.46 and a two-hundred day simple moving average of $35.24. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Sealed Air Company 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.