Raymond James Trust N.A. Purchases 466 Shares of Sealed Air Co. (NYSE:SEE)

Raymond James Trust N.A. raised its position in shares of Sealed Air Co. (NYSE:SEE) by 3.4% in the third quarter, HoldingsChannel reports. The firm owned 14,016 shares of the industrial products company’s stock after acquiring an additional 466 shares during the period. Raymond James Trust N.A.’s holdings in Sealed Air were worth $509,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SEE. Family Firm Inc. purchased a new stake in shares of Sealed Air in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in Sealed Air during the second quarter worth $34,000. Allspring Global Investments Holdings LLC boosted its position in 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sealed Air during the 2nd quarter worth $105,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley began coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and decreased their price objective for the company from $47.00 to $35.00 in a report on Friday, August 9th. Finally, Truist Financial dropped their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Down 1.8 %

Shares of SEE stock opened at $35.95 on Wednesday. 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 firm has a market capitalization of $5.24 billion, a PE ratio of 13.22, a P/E/G ratio of 4.97 and a beta of 1.34. The stock’s 50-day simple moving average is $35.74 and its 200-day simple moving average is $35.85.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping 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 net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. Equities analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 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.