Cardinal Capital Management Acquires 2,787 Shares of Sealed Air Co. (NYSE:SEE)

Cardinal Capital Management increased its stake in shares of Sealed Air Co. (NYSE:SEE) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,123 shares of the industrial products company’s stock after buying an additional 2,787 shares during the period. Cardinal Capital Management’s holdings in Sealed Air were worth $1,425,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Sealed Air by 81.4% during the 3rd quarter. CWM LLC now owns 5,961 shares of the industrial products company’s stock valued at $216,000 after buying an additional 2,675 shares in the last quarter. Everence Capital Management Inc. lifted its stake in Sealed Air by 2.8% during the third quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 380 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sealed Air by 20.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,590 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 1,441 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Sealed Air by 8.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 40,625 shares of the industrial products company’s stock worth $1,475,000 after purchasing an additional 3,334 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Sealed Air by 51.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 129,129 shares of the industrial products company’s stock valued at $4,686,000 after buying an additional 43,635 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

SEE opened at $33.99 on Tuesday. The stock’s 50 day moving average price is $34.51 and its 200-day moving average price is $34.98. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The stock has a market capitalization of $4.95 billion, a PE ratio of 12.49 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Wall Street Analysts Forecast Growth

SEE has been the subject of several research reports. Morgan Stanley cut their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. UBS Group reduced their target price on shares of Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Citigroup lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Bank of America reduced their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sealed Air presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Sealed Air Company 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.