Qsemble Capital Management LP Grows Stock Position in Sealed Air Co. (NYSE:SEE)

Qsemble Capital Management LP grew its position in shares of Sealed Air Co. (NYSE:SEE) by 388.2% during the third quarter, Holdings Channel reports. The institutional investor owned 34,242 shares of the industrial products company’s stock after purchasing an additional 27,228 shares during the quarter. Qsemble Capital Management LP’s holdings in Sealed Air were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SEE. Bank of Montreal Can grew its stake in Sealed Air by 175.5% in the 3rd quarter. Bank of Montreal Can now owns 256,641 shares of the industrial products company’s stock valued at $9,411,000 after buying an additional 163,493 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Sealed Air by 21.1% in the third quarter. Horizon Kinetics Asset Management LLC now owns 43,100 shares of the industrial products company’s stock valued at $1,565,000 after purchasing an additional 7,500 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Sealed Air by 65.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 38,817 shares of the industrial products company’s stock valued at $1,409,000 after purchasing an additional 15,426 shares during the period. Swedbank AB bought a new position in Sealed Air in the 3rd quarter worth about $53,681,000. Finally, Cerity Partners LLC grew its holdings in Sealed Air by 49.2% during the 3rd quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company’s stock valued at $771,000 after buying an additional 7,003 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 1.8 %

NYSE SEE opened at $35.95 on Wednesday. The stock has a 50-day moving average of $35.74 and a 200-day moving average of $35.85. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The firm has a market cap of $5.24 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. Sealed Air’s dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Finally, Truist Financial cut their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. 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, Sealed Air currently has an average 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.