Bank of Montreal Can Acquires 163,493 Shares of Sealed Air Co. (NYSE:SEE)

Bank of Montreal Can raised its position in Sealed Air Co. (NYSE:SEE - Free Report) by 175.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 256,641 shares of the industrial products company's stock after purchasing an additional 163,493 shares during the period. Bank of Montreal Can owned 0.18% of Sealed Air worth $9,411,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Everence Capital Management Inc. lifted its position in shares of Sealed Air by 2.8% during the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock valued at $506,000 after acquiring an additional 380 shares during the period. United Services Automobile Association grew its position in Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock valued at $401,000 after buying an additional 393 shares during the period. Raymond James Trust N.A. grew its position in Sealed Air by 3.4% during the third quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company's stock valued at $509,000 after buying an additional 466 shares during the period. Mount Yale Investment Advisors LLC grew its position in Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company's stock valued at $1,275,000 after buying an additional 467 shares during the period. Finally, Sendero Wealth Management LLC lifted its holdings in Sealed Air by 7.2% during the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Trading Down 0.3 %

SEE traded down $0.10 on Monday, hitting $36.50. 304,236 shares of the company were exchanged, compared to its average volume of 1,503,702. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The firm has a fifty day simple moving average of $35.84 and a two-hundred day simple moving average of $35.79. The stock has a market capitalization of $5.32 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. The business 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%. The company's revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Sell-side analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SEE shares. Wells Fargo & Company increased their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Morgan Stanley started coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered their target price on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.00.

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.