Oak Thistle LLC Acquires Shares of 13,517 Sealed Air Corporation $SEE

Oak Thistle LLC bought a new stake in shares of Sealed Air Corporation (NYSE:SEE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,517 shares of the industrial products company’s stock, valued at approximately $560,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Invesco Ltd. increased its stake in shares of Sealed Air by 31.7% in the third quarter. Invesco Ltd. now owns 4,754,668 shares of the industrial products company’s stock worth $168,078,000 after acquiring an additional 1,144,982 shares during the last quarter. Bank of America Corp DE boosted its position in Sealed Air by 13.7% during the second quarter. Bank of America Corp DE now owns 4,220,533 shares of the industrial products company’s stock valued at $130,963,000 after purchasing an additional 507,067 shares during the last quarter. Ancora Advisors LLC grew its stake in Sealed Air by 81.1% in the third quarter. Ancora Advisors LLC now owns 3,437,412 shares of the industrial products company’s stock valued at $121,513,000 after purchasing an additional 1,538,927 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Sealed Air by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,900,066 shares of the industrial products company’s stock valued at $102,513,000 after purchasing an additional 137,699 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Sealed Air by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 2,798,654 shares of the industrial products company’s stock worth $98,932,000 after purchasing an additional 57,511 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of recent research reports. Raymond James Financial downgraded Sealed Air from an “outperform” rating to a “market perform” rating in a research note on Monday, December 22nd. Robert W. Baird reissued a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Sealed Air in a research note on Thursday, December 18th. Truist Financial increased their price objective on Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sealed Air in a research note on Friday, March 27th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Sealed Air has an average rating of “Moderate Buy” and an average price target of $44.09.

Sealed Air Stock Performance

Sealed Air stock opened at $42.15 on Friday. Sealed Air Corporation has a one year low of $23.44 and a one year high of $44.27. The company’s fifty day moving average price is $41.95 and its two-hundred day moving average price is $40.15. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.91 and a quick ratio of 0.56. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 12.29 and a beta of 1.29.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a return on equity of 47.21% and a net margin of 9.43%.The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, March 13th. Sealed Air’s payout ratio is 23.32%.

Sealed Air Company Profile

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.