Oppenheimer & Co. Inc. Raises Stock Position in Sealed Air Co. (NYSE:SEE)

Oppenheimer & Co. Inc. increased its stake in Sealed Air Co. (NYSE:SEE) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,445 shares of the industrial products company’s stock after purchasing an additional 824 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sealed Air were worth $1,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. purchased a new position in shares of Sealed Air during the 3rd quarter worth $139,800,000. Swedbank AB lifted its stake in Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock worth $78,678,000 after purchasing an additional 846,882 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sealed Air by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock worth $83,542,000 after purchasing an additional 12,559 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Sealed Air by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after buying an additional 502,999 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in shares of Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after buying an additional 548,493 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Bank of America dropped their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their target price on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, UBS Group raised their target price on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.17.

Sealed Air Trading Down 4.6 %

Shares of Sealed Air stock opened at $31.08 on Wednesday. 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 fifty day moving average price of $34.04 and a 200 day moving average price of $34.91. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The stock has a market cap of $4.53 billion, a PE ratio of 11.43 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. Equities research analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. Sealed Air’s dividend payout ratio (DPR) is 44.20%.

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.