ING Groep NV Acquires Shares of 96,700 Sealed Air Co. (NYSE:SEE)

ING Groep NV acquired a new stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 96,700 shares of the industrial products company's stock, valued at approximately $3,510,000. ING Groep NV owned about 0.07% of Sealed Air at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Family Firm Inc. bought a new stake in Sealed Air in the second quarter valued at about $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Sealed Air during the 2nd quarter valued at approximately $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the first quarter worth $52,000. Covestor Ltd boosted its holdings in Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company's stock worth $60,000 after purchasing an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. Institutional investors own 94.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SEE. Royal Bank of Canada decreased their price target on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. Jefferies Financial Group cut Sealed Air from a "buy" rating to a "hold" rating and dropped their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. StockNews.com lowered Sealed Air from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 9th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Sealed Air Price Performance

Shares of NYSE SEE traded up $0.23 during mid-day trading on Friday, reaching $35.86. 868,826 shares of the company traded hands, compared to its average volume of 1,354,155. The stock has a fifty day simple moving average of $35.48 and a 200-day simple moving average of $35.85. 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 market cap of $5.22 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 4.96 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last released its 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. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.77 earnings per share. Sealed Air's revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that Sealed Air Co. will post 3.07 EPS for the current fiscal 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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air's payout ratio is 29.41%.

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.