Paloma Partners Management Co Invests $709,000 in Sealed Air Co. (NYSE:SEE)

Paloma Partners Management Co bought a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 19,519 shares of the industrial products company's stock, valued at approximately $709,000.

Several other hedge funds and other institutional investors have also modified their holdings of SEE. Everence Capital Management Inc. lifted its holdings 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 worth $506,000 after acquiring an additional 380 shares during the period. United Services Automobile Association increased its position in shares of 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 worth $401,000 after buying an additional 393 shares during the period. Raymond James Trust N.A. increased its position in shares of 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 worth $509,000 after buying an additional 466 shares during the period. Mount Yale Investment Advisors LLC boosted its stake 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 worth $1,275,000 after acquiring an additional 467 shares in the last quarter. Finally, Sendero Wealth Management LLC boosted its stake 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 worth $298,000 after acquiring an additional 550 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Price Performance

Shares of SEE stock traded up $0.65 during trading hours on Wednesday, hitting $37.30. 1,215,212 shares of the company's stock were exchanged, compared to its average volume of 1,504,063. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a market cap of $5.43 billion, a P/E ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. The firm has a 50 day moving average of $35.88 and a two-hundred day moving average of $35.76. 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 posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's payout ratio is presently 29.41%.

Analysts Set New Price Targets

SEE has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective 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. Raymond James upgraded shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 target price for the company in a report on Thursday, October 17th. Wells Fargo & Company increased their target price 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. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 target price for the company. Finally, Jefferies Financial Group downgraded shares of Sealed Air from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Eight research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

About Sealed Air

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.