1,478,814 Shares in Sealed Air Co. (NYSE:SEE) Acquired by Swedbank AB

Swedbank AB bought a new position in shares of Sealed Air Co. (NYSE:SEE) during the third quarter, HoldingsChannel.com reports. The firm bought 1,478,814 shares of the industrial products company’s stock, valued at approximately $53,681,000.

A number of other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Sealed Air by 10.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company’s stock worth $5,828,000 after buying an additional 15,174 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Sealed Air by 90.5% in the first 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 in the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Sealed Air by 1.4% in the second 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 purchased a new position in shares of Sealed Air during the 2nd quarter worth approximately $2,098,000. Finally, Empowered Funds LLC acquired a new position in shares of Sealed Air during the 3rd quarter worth approximately $1,497,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Price Performance

Sealed Air stock opened at $35.90 on Monday. 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 quick ratio of 0.79 and a current ratio of 1.29. The firm has a 50 day moving average price of $35.69 and a 200 day moving average price of $35.85. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 4.97 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. Sell-side analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

Analyst Upgrades and Downgrades

SEE has been the topic of a number of analyst reports. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Friday. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Morgan Stanley assumed 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 on the stock. Finally, Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and lowered their price target for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus target price 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.