Bridgewater Associates LP Buys 15,827 Shares of Sealed Air Co. (NYSE:SEE)

Bridgewater Associates LP boosted its position in Sealed Air Co. (NYSE:SEE - Free Report) by 38.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,575 shares of the industrial products company's stock after buying an additional 15,827 shares during the quarter. Bridgewater Associates LP's holdings in Sealed Air were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SEE. Everence Capital Management Inc. increased its holdings in Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock worth $506,000 after acquiring an additional 380 shares during the last quarter. United Services Automobile Association raised its position in shares of Sealed Air by 3.5% in the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock valued at $401,000 after purchasing an additional 393 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Sealed Air by 3.4% during the 3rd 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 in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Sealed Air by 1.3% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company's stock worth $1,275,000 after buying an additional 467 shares during the period. Finally, Sendero Wealth Management LLC grew its stake in Sealed Air by 7.2% in the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company's stock valued at $298,000 after buying an additional 550 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Trading Up 1.0 %

Shares of NYSE:SEE traded up $0.36 during trading on Friday, reaching $36.60. 708,580 shares of the company traded hands, compared to its average volume of 1,445,841. The business's fifty day moving average is $35.84 and its 200-day moving average is $35.81. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 13.46, a P/E/G 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. As a group, analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, November 22nd. Morgan Stanley began coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 target price for the company. Truist Financial decreased their price target on Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group lowered shares of Sealed Air from a "buy" rating to a "hold" rating and cut their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.00.

Sealed Air 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.