Invenomic Capital Management LP Purchases 68,468 Shares of Sealed Air Corporation $SEE

Invenomic Capital Management LP raised its position in shares of Sealed Air Corporation (NYSE:SEE) by 18.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 438,282 shares of the industrial products company’s stock after buying an additional 68,468 shares during the period. Invenomic Capital Management LP’s holdings in Sealed Air were worth $15,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Jain Global LLC grew its stake in shares of Sealed Air by 9,266.3% in the third quarter. Jain Global LLC now owns 683,930 shares of the industrial products company’s stock worth $24,177,000 after purchasing an additional 676,628 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Sealed Air by 16.1% in the 3rd quarter. Gotham Asset Management LLC now owns 269,430 shares of the industrial products company’s stock worth $9,524,000 after buying an additional 37,429 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of Sealed Air by 2,079.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 529,082 shares of the industrial products company’s stock worth $18,703,000 after buying an additional 504,808 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Sealed Air by 0.3% in the 3rd quarter. California Public Employees Retirement System now owns 290,867 shares of the industrial products company’s stock worth $10,282,000 after buying an additional 784 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in shares of Sealed Air during the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SEE has been the subject of several research reports. Raymond James Financial lowered Sealed Air from an “outperform” rating to a “market perform” rating in a research report on Monday, December 22nd. Wall Street Zen cut Sealed Air from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (up from $43.80) on shares of Sealed Air in a report on Monday, November 17th. Truist Financial raised their price objective on Sealed Air from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $42.00 target price (down from $45.00) on shares of Sealed Air in a research report on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.09.

Sealed Air Trading Down 0.4%

Shares of SEE opened at $41.82 on Monday. Sealed Air Corporation has a 1 year low of $22.78 and a 1 year high of $44.27. The company has a 50 day simple moving average of $41.84 and a two-hundred day simple moving average of $39.00. 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 firm has a market cap of $6.16 billion, a P/E ratio of 12.19 and a beta of 1.35.

Sealed Air (NYSE:SEE) last issued its 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 firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 9.43% and a return on equity of 47.21%. Sealed Air’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, equities analysts expect that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Sealed Air’s payout ratio is presently 23.32%.

About Sealed Air

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.