Horizon Kinetics Asset Management LLC Has $1.57 Million Stake in Sealed Air Co. (NYSE:SEE)

Horizon Kinetics Asset Management LLC grew its holdings in Sealed Air Co. (NYSE:SEE) by 21.1% during the third quarter, Holdings Channel.com reports. The firm owned 43,100 shares of the industrial products company’s stock after acquiring an additional 7,500 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Sealed Air were worth $1,565,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Everence Capital Management Inc. lifted its position in Sealed Air by 2.8% during the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock worth $506,000 after buying an additional 380 shares in the last quarter. United Services Automobile Association raised its position in Sealed Air by 3.5% in the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 393 shares during the last quarter. Raymond James Trust N.A. boosted its position in Sealed Air by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock valued at $509,000 after buying an additional 466 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after acquiring an additional 467 shares during the last quarter. Finally, Sendero Wealth Management LLC boosted its holdings in Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 550 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SEE shares. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company increased their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Truist Financial decreased their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Up 2.0 %

NYSE:SEE opened at $36.61 on Tuesday. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The stock has a 50-day moving average price of $35.74 and a two-hundred day moving average price of $35.85. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 4.97 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, equities analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Sealed Air’s payout ratio is 29.41%.

Sealed Air Company Profile

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.