Invenomic Capital Management LP Takes $6.83 Million Position in Sealed Air Co. (NYSE:SEE)

Invenomic Capital Management LP bought a new position in Sealed Air Co. (NYSE:SEEFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 187,142 shares of the industrial products company’s stock, valued at approximately $6,834,000. Invenomic Capital Management LP owned about 0.13% of Sealed Air at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Sealed Air by 0.5% in the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after purchasing an additional 92,114 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Sealed Air by 2,549.6% during the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after acquiring an additional 5,138,700 shares in the last quarter. Invesco Ltd. boosted its holdings in Sealed Air by 70.1% during the 3rd quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after acquiring an additional 2,159,143 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Sealed Air in the 4th quarter worth $86,410,000. Finally, Earnest Partners LLC raised its holdings in shares of Sealed Air by 16.3% in the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock valued at $70,975,000 after purchasing an additional 302,099 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

Sealed Air stock opened at $38.52 on Tuesday. The firm has a market capitalization of $5.61 billion, a P/E ratio of 15.47, a PEG ratio of 3.47 and a beta of 1.35. Sealed Air Co. has a one year low of $28.50 and a one year high of $47.12. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80. The business has a fifty day moving average price of $35.44 and a 200-day moving average price of $35.51.

Sealed Air (NYSE:SEEGet Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sealed Air Co. will post 2.89 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.08%. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

Analysts Set New Price Targets

SEE has been the subject of a number of recent analyst reports. Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and upped their price objective for the stock from $39.00 to $44.00 in a research report on Monday, April 8th. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday. Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, Wolfe Research started coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.90.

Check Out Our Latest Analysis on SEE

Sealed Air Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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