ING Groep NV Invests $3.51 Million in Sealed Air Co. (NYSE:SEE)

ING Groep NV purchased a new stake in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 96,700 shares of the industrial products company’s stock, valued at approximately $3,510,000. ING Groep NV owned 0.07% of Sealed Air as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SEE. Allspring Global Investments Holdings LLC acquired a new position in shares of Sealed Air during the 1st quarter valued at $52,000. Sei Investments Co. lifted its stake in shares of Sealed Air by 2.4% during the first quarter. Sei Investments Co. now owns 247,892 shares of the industrial products company’s stock worth $9,222,000 after purchasing an additional 5,750 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Sealed Air by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock worth $6,750,000 after buying an additional 15,710 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Sealed Air by 176.8% in the first quarter. Orion Portfolio Solutions LLC now owns 25,725 shares of the industrial products company’s stock valued at $957,000 after buying an additional 16,432 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sealed Air by 3.7% during the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after purchasing an additional 600,146 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SEE shares. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. StockNews.com cut Sealed Air from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Morgan Stanley started coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Finally, Raymond James raised 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. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Performance

Shares of SEE opened at $35.86 on Friday. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The firm has a market capitalization of $5.22 billion, a PE ratio of 13.18, a P/E/G ratio of 4.93 and a beta of 1.34. The firm has a 50-day moving average price of $35.48 and a 200 day moving average price of $35.85. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. On average, sell-side analysts anticipate that Sealed Air Co. will post 3.07 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.23%. Sealed Air’s dividend payout ratio is currently 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.