Sound Income Strategies LLC Acquires 9,634 Shares of Sealed Air Co. (NYSE:SEE)

Sound Income Strategies LLC boosted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,429 shares of the industrial products company’s stock after acquiring an additional 9,634 shares during the quarter. Sound Income Strategies LLC owned 0.05% of Sealed Air worth $2,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Sealed Air during the 3rd quarter worth about $139,800,000. Geode Capital Management LLC lifted its holdings in Sealed Air by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock worth $83,542,000 after buying an additional 12,559 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after buying an additional 479,675 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after buying an additional 24,940 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

Shares of SEE opened at $35.24 on Friday. The business’s fifty day moving average is $35.05 and its 200 day moving average is $35.19. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The stock has a market cap of $5.13 billion, a P/E ratio of 12.96, a P/E/G ratio of 8.52 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The firm had revenue of $1.35 billion for 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%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SEE has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Morgan Stanley lowered their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Bank of America cut their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Mizuho lowered their price objective on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.