Hsbc Holdings PLC Buys 5,138,700 Shares of Sealed Air Co. (NYSE:SEE)

Hsbc Holdings PLC raised its stake in shares of Sealed Air Co. (NYSE:SEE) by 2,549.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,340,247 shares of the industrial products company’s stock after purchasing an additional 5,138,700 shares during the period. Hsbc Holdings PLC owned 3.70% of Sealed Air worth $195,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC grew its stake in shares of Sealed Air by 21.4% during the 4th quarter. Advisory Services Network LLC now owns 8,691 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 1,534 shares during the period. Commerce Bank increased its stake in shares of Sealed Air by 42.8% in the fourth quarter. Commerce Bank now owns 23,721 shares of the industrial products company’s stock worth $866,000 after purchasing an additional 7,106 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Sealed Air by 12.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 17,520 shares of the industrial products company’s stock valued at $640,000 after purchasing an additional 1,940 shares during the period. Element Capital Management LLC purchased a new position in shares of Sealed Air during the 4th quarter valued at $1,327,000. Finally, Aigen Investment Management LP purchased a new position in shares of Sealed Air during the 4th quarter valued at $296,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 0.5 %

SEE traded down $0.17 during trading on Friday, reaching $37.23. The company had a trading volume of 1,001,608 shares, compared to its average volume of 1,677,629. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The business has a 50 day simple moving average of $34.96 and a 200-day simple moving average of $35.11. The stock has a market cap of $5.42 billion, a P/E ratio of 14.95, a PEG ratio of 3.34 and a beta of 1.31. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $47.12.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, June 14th. Sealed Air’s payout ratio is currently 32.13%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and raised their price target for the company from $39.00 to $44.00 in a report on Monday, April 8th. William Blair restated a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Mizuho reduced their price objective on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Finally, Wolfe Research started coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.50.

About Sealed Air

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.