Swedbank AB Purchases New Shares in Sealed Air Co. (NYSE:SEE)

Swedbank AB purchased a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,478,814 shares of the industrial products company's stock, valued at approximately $53,681,000. Swedbank AB owned 1.02% of Sealed Air at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its stake in Sealed Air by 10.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company's stock valued at $5,828,000 after purchasing an additional 15,174 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Sealed Air by 90.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company's stock valued at $1,804,000 after purchasing an additional 23,029 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake 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 purchasing an additional 24,940 shares during the last quarter. Van ECK Associates Corp bought a new position in Sealed Air in the 2nd quarter valued at approximately $2,098,000. Finally, Empowered Funds LLC bought a new position in Sealed Air in the 3rd quarter valued at approximately $1,497,000. Institutional investors own 94.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jefferies Financial Group cut shares of Sealed Air from a "buy" rating to a "hold" rating and decreased their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th. 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 research report on Thursday, October 17th. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Sealed Air presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Sealed Air Stock Up 2.0 %

NYSE:SEE traded up $0.71 during trading hours on Monday, reaching $36.61. The company had a trading volume of 942,158 shares, compared to its average volume of 1,518,721. 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 $5.33 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 4.97 and a beta of 1.34. The business's 50-day simple moving average is $35.74 and its two-hundred day simple moving average is $35.85. 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 posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. On average, equities analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's dividend payout ratio (DPR) 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.