AE Wealth Management LLC Purchases New Position in Sealed Air Co. (NYSE:SEE)

AE Wealth Management LLC acquired a new stake in shares of Sealed Air Co. (NYSE:SEE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 117,564 shares of the industrial products company’s stock, valued at approximately $4,090,000. AE Wealth Management LLC owned 0.08% of Sealed Air as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its holdings 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 valued at $195,720,000 after buying an additional 5,138,700 shares during the period. Balyasny Asset Management L.P. acquired a new position in Sealed Air in the fourth quarter valued at about $86,410,000. Norges Bank acquired a new position in Sealed Air in the fourth quarter valued at about $52,968,000. Appian Way Asset Management LP bought a new stake in shares of Sealed Air in the first quarter worth about $29,877,000. Finally, Vanguard Group Inc. raised its position in shares of Sealed Air by 3.7% during the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after purchasing an additional 600,146 shares during the period. Institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 1.4 %

Shares of Sealed Air stock opened at $35.09 on Monday. The stock has a market cap of $5.11 billion, a P/E ratio of 14.09, a P/E/G ratio of 8.59 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. Sealed Air Co. has a 12-month low of $28.50 and a 12-month high of $41.14. The business’s 50 day moving average is $34.86 and its 200-day moving average is $35.40.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, September 13th. Sealed Air’s payout ratio is currently 32.13%.

Analysts Set New Price Targets

SEE has been the subject of a number of research reports. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $50.00 in a research report on Thursday, June 6th. Citigroup cut their price objective on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.