Geode Capital Management LLC Increases Stake in Sealed Air Corporation $SEE

Geode Capital Management LLC increased its position in shares of Sealed Air Corporation (NYSE:SEE) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,453,216 shares of the industrial products company’s stock after buying an additional 12,909 shares during the period. Geode Capital Management LLC owned about 1.67% of Sealed Air worth $76,137,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Sealed Air by 334.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 960 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 739 shares during the period. Metis Global Partners LLC increased its holdings in Sealed Air by 29.2% during the second quarter. Metis Global Partners LLC now owns 12,497 shares of the industrial products company’s stock valued at $388,000 after buying an additional 2,824 shares during the period. Penserra Capital Management LLC raised its stake in Sealed Air by 40.0% in the second quarter. Penserra Capital Management LLC now owns 15,790 shares of the industrial products company’s stock worth $489,000 after buying an additional 4,511 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Sealed Air in the second quarter worth approximately $25,000. Finally, First Horizon Advisors Inc. lifted its holdings in Sealed Air by 14.3% during the second quarter. First Horizon Advisors Inc. now owns 5,216 shares of the industrial products company’s stock worth $162,000 after buying an additional 652 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SEE shares. Wells Fargo & Company lifted their price target on Sealed Air from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sealed Air in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 target price (up from $43.80) on shares of Sealed Air in a report on Monday, November 17th. Royal Bank Of Canada increased their price target on shares of Sealed Air from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sealed Air from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

Sealed Air Price Performance

Shares of SEE opened at $42.69 on Friday. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.19 and a quick ratio of 0.71. The company’s fifty day moving average price is $35.89 and its 200-day moving average price is $33.06. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $44.27. The firm has a market capitalization of $6.28 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.40 and a beta of 1.38.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.19. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Sealed Air had a return on equity of 60.61% and a net margin of 5.46%. Sealed Air has set its FY 2025 guidance at 3.250-3.350 EPS. On average, equities research analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Sealed Air’s dividend payout ratio is 25.97%.

About Sealed Air

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.