Panagora Asset Management Inc. Purchases 11,541 Shares of Sealed Air Co. (NYSE:SEE)

Panagora Asset Management Inc. grew its position in shares of Sealed Air Co. (NYSE:SEE) by 29.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,155 shares of the industrial products company’s stock after buying an additional 11,541 shares during the period. Panagora Asset Management Inc.’s holdings in Sealed Air were worth $2,972,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SEE. Cullen Frost Bankers Inc. bought a new position in Sealed Air during the 2nd quarter worth $28,000. Optimum Investment Advisors bought a new position in Sealed Air during the 2nd quarter worth $36,000. CSat Investment Advisory L.P. increased its position in Sealed Air by 32.1% during the 1st quarter. CSat Investment Advisory L.P. now owns 2,492 shares of the industrial products company’s stock worth $114,000 after buying an additional 606 shares during the period. Investment Counselors of Maryland LLC bought a new position in Sealed Air during the 1st quarter worth $140,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Sealed Air by 23.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,370 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.

Sealed Air stock opened at $57.30 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 39.57. The company has a market capitalization of $8.59 billion, a PE ratio of 17.96, a P/E/G ratio of 1.71 and a beta of 1.26. Sealed Air Co. has a 12 month low of $37.00 and a 12 month high of $62.04. The stock has a 50-day moving average price of $58.37 and a two-hundred day moving average price of $54.82.

Sealed Air (NYSE:SEE) last posted its earnings results on Monday, August 2nd. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a return on equity of 519.84% and a net margin of 9.56%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company earned $0.76 earnings per share. As a group, analysts predict that Sealed Air Co. will post 3.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.40%. Sealed Air’s dividend payout ratio is presently 25.08%.

Several analysts have recently issued reports on the company. Zacks Investment Research lowered Sealed Air from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Monday, September 6th. Morgan Stanley increased their target price on Sealed Air from $52.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, August 5th. Truist Securities assumed coverage on Sealed Air in a report on Tuesday, September 14th. They set a “buy” rating and a $72.00 target price on the stock. William Blair assumed coverage on Sealed Air in a report on Monday, August 23rd. They set an “outperform” rating on the stock. Finally, BMO Capital Markets increased their target price on Sealed Air from $52.00 to $62.00 and gave the stock a “market perform” rating in a report on Thursday, August 5th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Sealed Air presently has a consensus rating of “Buy” and a consensus target price of $60.71.

Sealed Air Company Profile

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

See Also: Fiduciary

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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