Kiltearn Partners LLP Increases Holdings in Sealed Air Co. (NYSE:SEE)

Kiltearn Partners LLP grew its stake in shares of Sealed Air Co. (NYSE:SEE) by 35.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 531,000 shares of the industrial products company’s stock after acquiring an additional 139,100 shares during the quarter. Sealed Air comprises approximately 2.2% of Kiltearn Partners LLP’s portfolio, making the stock its 19th biggest position. Kiltearn Partners LLP owned approximately 0.36% of Sealed Air worth $18,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in shares of Sealed Air in the second quarter worth $26,000. Fidelis Capital Partners LLC purchased a new position in Sealed Air in the 1st quarter worth about $31,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the 1st quarter valued at about $52,000. Covestor Ltd boosted its holdings in shares of 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 acquiring an additional 1,400 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Sealed Air in the fourth quarter worth approximately $118,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

SEE opened at $35.41 on Tuesday. The company has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $35.39. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market cap of $5.16 billion, a P/E ratio of 14.22, a PEG 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 earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. Sealed Air’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities analysts forecast 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 $0.20 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. Sealed Air’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

A number of brokerages have weighed in on SEE. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $35.00 in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. Finally, Mizuho upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $50.00 in a research report on Thursday, June 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Sealed Air has a consensus rating of “Hold” and an average target price of $41.30.

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.