Jain Global LLC Buys 676,628 Shares of Sealed Air Corporation $SEE

Jain Global LLC increased its stake in shares of Sealed Air Corporation (NYSE:SEE) by 9,266.3% during the third quarter, HoldingsChannel.com reports. The fund owned 683,930 shares of the industrial products company’s stock after purchasing an additional 676,628 shares during the period. Jain Global LLC’s holdings in Sealed Air were worth $24,177,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SEE. Northwestern Mutual Wealth Management Co. lifted its holdings in Sealed Air by 383.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 837 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 664 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Sealed Air during the third quarter valued at approximately $27,000. Salomon & Ludwin LLC bought a new position in shares of Sealed Air in the third quarter valued at approximately $45,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Sealed Air by 94.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company’s stock worth $45,000 after buying an additional 756 shares during the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Sealed Air in the third quarter worth $49,000. 94.40% of the stock is owned by institutional investors.

Sealed Air Trading Down 0.4%

Shares of Sealed Air stock opened at $41.82 on Monday. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 12.19 and a beta of 1.35. Sealed Air Corporation has a 1 year low of $22.78 and a 1 year high of $44.27. The company’s fifty day simple moving average is $41.84 and its 200-day simple moving average is $39.00. The company has a current ratio of 0.91, a quick ratio of 0.56 and a debt-to-equity ratio of 2.65.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 9.43% and a return on equity of 47.21%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. As a group, sell-side analysts expect that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

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

Analyst Upgrades and Downgrades

SEE has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sealed Air in a research note on Monday, December 29th. Truist Financial boosted their target price on shares of Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Robert W. Baird restated a “neutral” rating and set a $42.00 price target (down from $45.00) on shares of Sealed Air in a report on Thursday, December 18th. Wall Street Zen downgraded Sealed Air from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (up from $43.80) on shares of Sealed Air in a research note on Monday, November 17th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.09.

Sealed Air 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.