Bridgewater Associates LP Raises Stock Holdings in Sealed Air Co. (NYSE:SEE)

Bridgewater Associates LP boosted its holdings in Sealed Air Co. (NYSE:SEE) by 38.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,575 shares of the industrial products company’s stock after purchasing an additional 15,827 shares during the period. Bridgewater Associates LP’s holdings in Sealed Air were worth $2,054,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in shares of Sealed Air in the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Sealed Air in the second quarter valued at about $34,000. Allspring Global Investments Holdings LLC grew its position in shares of Sealed Air by 100.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Sealed Air in the second quarter valued at approximately $105,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Up 1.0 %

Sealed Air stock opened at $36.60 on Friday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The stock has a market cap of $5.33 billion, a P/E ratio of 13.46, a PEG ratio of 5.01 and a beta of 1.34. The firm’s fifty day moving average price is $35.84 and its 200-day moving average price is $35.83.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. 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 firm posted $0.77 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Equities research 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 declared 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. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Sealed Air’s dividend payout ratio is presently 29.41%.

Analyst Upgrades and Downgrades

SEE has been the topic of several research reports. Wells Fargo & Company boosted their target price on 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 initiated coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Royal Bank of Canada dropped 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. Finally, Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Company 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.