Tidal Investments LLC Has $1.18 Million Holdings in Sealed Air Co. (NYSE:SEE)

Tidal Investments LLC lifted its stake in shares of Sealed Air Co. (NYSE:SEE) by 6.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,519 shares of the industrial products company’s stock after acquiring an additional 2,051 shares during the period. Tidal Investments LLC’s holdings in Sealed Air were worth $1,180,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SEE. Louisiana State Employees Retirement System raised its holdings in Sealed Air by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 73,300 shares of the industrial products company’s stock worth $2,550,000 after acquiring an additional 1,800 shares during the period. Family Firm Inc. acquired a new stake in Sealed Air in the 2nd quarter worth $26,000. Easterly Investment Partners LLC bought a new position in shares of Sealed Air during the 2nd quarter worth about $7,926,000. Allspring Global Investments Holdings LLC raised its position in shares of Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after buying an additional 1,422 shares during the last quarter. Finally, Burney Co. lifted its stake in shares of Sealed Air by 6.9% in the second quarter. Burney Co. now owns 19,747 shares of the industrial products company’s stock valued at $687,000 after buying an additional 1,278 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Down 1.0 %

NYSE SEE opened at $33.97 on Friday. The stock’s 50 day simple moving average is $36.01 and its 200 day simple moving average is $35.65. 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 $4.95 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

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

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 2.36%. Sealed Air’s payout ratio is 29.41%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target for the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. 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 on the stock in a research note on Thursday, October 17th. Truist Financial dropped their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and a consensus 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.