Spire Wealth Management Buys 50,448 Shares of Sealed Air Co. (NYSE:SEE)

Spire Wealth Management lifted its stake in shares of Sealed Air Co. (NYSE:SEE) by 46.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,087 shares of the industrial products company’s stock after acquiring an additional 50,448 shares during the period. Spire Wealth Management owned approximately 0.11% of Sealed Air worth $5,566,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SEE. Invesco Ltd. boosted its holdings in Sealed Air by 70.1% during the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after purchasing an additional 2,159,143 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Sealed Air by 6,889.4% in the third quarter. Schonfeld Strategic Advisors LLC now owns 563,488 shares of the industrial products company’s stock valued at $18,516,000 after acquiring an additional 555,426 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Sealed Air by 65.7% in the third quarter. Victory Capital Management Inc. now owns 1,217,884 shares of the industrial products company’s stock valued at $40,020,000 after acquiring an additional 482,974 shares during the last quarter. Barclays PLC lifted its stake in Sealed Air by 143.4% in the third quarter. Barclays PLC now owns 753,857 shares of the industrial products company’s stock valued at $24,769,000 after acquiring an additional 444,131 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in Sealed Air by 16.3% in the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock valued at $70,975,000 after acquiring an additional 302,099 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Up 1.8 %

SEE traded up $0.62 during trading on Monday, reaching $35.79. 2,149,207 shares of the company’s stock were exchanged, compared to its average volume of 1,637,261. The firm has a fifty day moving average price of $34.34 and a two-hundred day moving average price of $34.44. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. Sealed Air Co. has a one year low of $28.50 and a one year high of $47.12. The stock has a market capitalization of $5.21 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 3.86 and a beta of 1.31.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $0.74 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Sealed Air Co. will post 2.8 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, March 7th. Sealed Air’s dividend payout ratio (DPR) is currently 32.13%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SEE shares. Mizuho cut their target price on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $43.00 in a research report on Thursday, January 11th. Wolfe Research assumed coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and raised their price target for the stock from $39.00 to $44.00 in a research report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.91.

Sealed Air 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.