Neo Ivy Capital Management Raises Stock Holdings in Sealed Air Co. (NYSE:SEE)

Neo Ivy Capital Management increased its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 187.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,300 shares of the industrial products company's stock after buying an additional 43,220 shares during the quarter. Neo Ivy Capital Management's holdings in Sealed Air were worth $2,406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SEE. Empowered Funds LLC acquired a new position in shares of Sealed Air in the 3rd quarter valued at approximately $1,497,000. Maple Rock Capital Partners Inc. raised its holdings in shares of Sealed Air by 56.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company's stock worth $55,085,000 after acquiring an additional 548,493 shares during the period. Deprince Race & Zollo Inc. lifted its position in Sealed Air by 1.4% in 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 in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Sealed Air in the 2nd quarter valued at about $2,098,000. Finally, Commerce Bank lifted its holdings in shares of Sealed Air by 67.6% in the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company's stock valued at $1,329,000 after purchasing an additional 14,766 shares in the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SEE shares. Morgan Stanley assumed coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 target price on the stock. Truist Financial decreased their target price on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lowered 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, Royal Bank of Canada reduced their price target on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a research report on Thursday, October 17th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.00.

Sealed Air Stock Performance

SEE traded down $0.55 during trading on Wednesday, hitting $36.29. The stock had a trading volume of 438,919 shares, compared to its average volume of 1,499,227. 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 company has a 50 day moving average price of $35.95 and a 200-day moving average price of $35.72. Sealed Air Co. has a one year low of $30.87 and a one year high of $41.14. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 5.05 and a beta of 1.34.

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

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.20%. Sealed Air's dividend payout ratio is 29.41%.

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.