Natixis Purchases Shares of 2,366 Sealed Air Co. (NYSE:SEE)

by · The Markets Daily

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Natixis purchased a new stake in Sealed Air Co. (NYSE:SEE – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,366 shares of the industrial products company’s stock, valued at approximately $95,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Sealed Air by 97,798.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 266,885,887 shares of the industrial products company’s stock valued at $10,675,435,000 after purchasing an additional 266,613,271 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Sealed Air by 9.3% during the 2nd quarter. BlackRock Inc. now owns 26,970,618 shares of the industrial products company’s stock worth $1,078,825,000 after acquiring an additional 2,291,607 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sealed Air by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 16,576,676 shares of the industrial products company’s stock worth $737,828,000 after acquiring an additional 97,907 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Sealed Air by 7.8% during the 1st quarter. Bank of America Corp DE now owns 3,261,503 shares of the industrial products company’s stock worth $149,736,000 after acquiring an additional 237,391 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Sealed Air by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,130,144 shares of the industrial products company’s stock worth $124,889,000 after acquiring an additional 83,885 shares in the last quarter. 89.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sealed Air

In other news, CEO Edward L. Doheny II purchased 10,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average price of $33.85 per share, with a total value of $338,500.00. Following the purchase, the chief executive officer now directly owns 658,360 shares in the company, valued at approximately $22,285,486. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Sealed Air Stock Down 5.4 %

SEE stock opened at $31.70 on Wednesday. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 7.29 and a beta of 1.25. The company has a current ratio of 1.23, a quick ratio of 0.75 and a debt-to-equity ratio of 11.34. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $56.43. The firm has a 50-day moving average of $31.87 and a two-hundred day moving average of $36.60.

Sealed Air (NYSE:SEE – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 5.65% and a return on equity of 126.77%. As a group, analysts forecast that Sealed Air Co. will post 2.92 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.20 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. Sealed Air’s payout ratio is 37.21%.

Wall Street Analyst Weigh In

SEE has been the topic of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of Sealed Air from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. Truist Financial lowered their target price on shares of Sealed Air from $43.00 to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, October 3rd. Credit Suisse Group raised shares of Sealed Air from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $59.00 to $47.00 in a research note on Wednesday, September 13th. William Blair lowered shares of Sealed Air from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Finally, StockNews.com began coverage on shares of Sealed Air in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air has a consensus rating of “Hold” and a consensus target price of $43.55.

Read Our Latest Stock Analysis on Sealed Air

Sealed Air Company Profile

(Free Report)

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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