Appian Way Asset Management LP Buys 76,390 Shares of Sealed Air Co. (NYSE:SEE)

Appian Way Asset Management LP lifted its position in shares of Sealed Air Co. (NYSE:SEE) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,426,247 shares of the industrial products company’s stock after acquiring an additional 76,390 shares during the quarter. Sealed Air accounts for approximately 11.6% of Appian Way Asset Management LP’s investment portfolio, making the stock its 2nd biggest holding. Appian Way Asset Management LP owned approximately 0.98% of Sealed Air worth $51,773,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SEE. Family Firm Inc. acquired a new position in Sealed Air during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Sealed Air in the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC increased its stake 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 worth $99,000 after buying an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sealed Air by 523.6% during the second 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sealed Air in the second quarter valued at approximately $105,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEE has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial dropped their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada reduced their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Morgan Stanley started coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Finally, Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sealed Air presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Trading Up 1.0 %

Shares of Sealed Air stock opened at $36.59 on Friday. The company has a fifty day simple moving average of $35.81 and a 200-day simple moving average of $35.84. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 5.01 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $0.77 EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.19%. Sealed Air’s dividend payout ratio is currently 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.