Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Sealed Air Co. (NYSE:SEE)

Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sealed Air Co. (NYSE:SEE) by 523.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,912 shares of the industrial products company’s stock after purchasing an additional 2,445 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Sealed Air were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEE. State Board of Administration of Florida Retirement System boosted its stake in shares of Sealed Air by 9.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock worth $6,750,000 after acquiring an additional 15,710 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sealed Air in the first quarter worth about $582,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Sealed Air by 10.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company’s stock valued at $5,828,000 after buying an additional 15,174 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Sealed Air by 90.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company’s stock valued at $1,804,000 after acquiring an additional 23,029 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in Sealed Air in the 2nd quarter worth approximately $2,098,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Up 1.9 %

NYSE SEE opened at $35.12 on Friday. The stock has a 50 day moving average price of $34.50 and a 200-day moving average price of $35.34. Sealed Air Co. has a one year low of $28.50 and a one year high of $41.14. The company has a market capitalization of $5.11 billion, a P/E ratio of 14.10, a P/E/G ratio of 8.77 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30.

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. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, equities analysts predict that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.28%. Sealed Air’s payout ratio is 32.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SEE shares. Royal Bank of Canada lowered shares of Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $43.00 to $40.00 in a research report on Friday, July 19th. Citigroup cut their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, July 8th. UBS Group dropped their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company lifted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.