FORA Capital LLC Buys New Stake in Sealed Air Co. (NYSE:SEE)

FORA Capital LLC acquired a new position in Sealed Air Co. (NYSE:SEE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,370 shares of the industrial products company’s stock, valued at approximately $376,000.

A number of other large investors have also modified their holdings of SEE. Pacer Advisors Inc. acquired a new position in shares of Sealed Air in the third quarter worth about $139,800,000. Swedbank AB purchased a new stake in shares of Sealed Air during the third quarter worth about $53,681,000. Millennium Management LLC increased its stake in shares of Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Appian Way Asset Management LP increased its stake in shares of Sealed Air by 68.1% during the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock worth $46,962,000 after purchasing an additional 546,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Performance

NYSE:SEE opened at $36.59 on Friday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 5.01 and a beta of 1.34. The company’s 50-day moving average is $35.81 and its two-hundred day moving average is $35.84. 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 earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. Analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.19%. Sealed Air’s payout ratio is 29.41%.

Analyst Ratings Changes

SEE has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Morgan Stanley initiated coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Finally, Truist Financial cut their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.