Maple Rock Capital Partners Inc. Buys 548,493 Shares of Sealed Air Co. (NYSE:SEE)

Maple Rock Capital Partners Inc. increased its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 56.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,517,493 shares of the industrial products company's stock after buying an additional 548,493 shares during the quarter. Sealed Air accounts for about 1.6% of Maple Rock Capital Partners Inc.'s portfolio, making the stock its 14th biggest holding. Maple Rock Capital Partners Inc. owned about 1.04% of Sealed Air worth $55,085,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in shares of Sealed Air in the third quarter valued at approximately $139,800,000. Swedbank AB bought a new position in shares of Sealed Air in the 3rd quarter valued at $53,681,000. Millennium Management LLC increased its stake in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company's stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Appian Way Asset Management LP boosted its holdings in shares of Sealed Air by 68.1% during the 2nd quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company's stock valued at $46,962,000 after acquiring an additional 546,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Sealed Air by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company's stock valued at $58,587,000 after acquiring an additional 502,999 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

NYSE SEE traded up $0.65 during trading hours on Wednesday, reaching $37.30. 1,215,212 shares of the stock traded hands, compared to its average volume of 1,504,059. The stock has a 50 day simple moving average of $35.88 and a two-hundred day simple moving average of $35.76. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. 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 market cap of $5.43 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, analysts predict that Sealed Air Co. will post 3.06 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 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 2.14%. Sealed Air's payout ratio is presently 29.41%.

Analyst Upgrades and Downgrades

SEE has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They set an "equal weight" rating and a $39.00 target price on the stock. Royal Bank of Canada dropped their price objective on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. Truist Financial dropped their price objective on Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, October 15th. Finally, StockNews.com lowered Sealed Air from a "buy" rating to a "hold" rating in a research report on Monday. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.