Fmr LLC Purchases 137,073 Shares of Sealed Air Co. (NYSE:SEE)

FMR LLC grew its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 28.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 626,348 shares of the industrial products company's stock after acquiring an additional 137,073 shares during the quarter. FMR LLC owned about 0.43% of Sealed Air worth $22,736,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Sealed Air during the 3rd quarter valued at $1,497,000. Deprince Race & Zollo Inc. lifted its position in shares of Sealed Air by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company's stock valued at $64,571,000 after acquiring an additional 24,940 shares during the period. Van ECK Associates Corp acquired a new position in shares of Sealed Air during the 2nd quarter worth $2,098,000. Commerce Bank raised its holdings in shares of Sealed Air by 67.6% during the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company's stock worth $1,329,000 after buying an additional 14,766 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Sealed Air during the 2nd quarter worth $514,000. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Trading Down 1.0 %

Shares of SEE stock traded down $0.39 on Tuesday, hitting $36.84. The company had a trading volume of 1,236,787 shares, compared to its average volume of 1,503,759. The firm has a market cap of $5.37 billion, a P/E ratio of 13.69, a P/E/G ratio of 5.05 and a beta of 1.34. The stock's 50-day moving average is $35.94 and its two-hundred day moving average is $35.73. 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 twelve month low of $30.87 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 2.17%. Sealed Air's payout ratio is 29.41%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Sealed Air from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, August 15th. Truist Financial lowered their price target on Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Royal Bank of Canada lowered their price target on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Sealed Air currently 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.