Chesapeake Capital Corp IL Makes New Investment in Sealed Air Co. (NYSE:SEE)

Chesapeake Capital Corp IL purchased a new stake in shares of Sealed Air Co. (NYSE:SEE) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,837 shares of the industrial products company’s stock, valued at approximately $481,000.

A number of other large investors have also recently modified their holdings of SEE. Invenomic Capital Management LP bought a new position in Sealed Air in the fourth quarter valued at $6,834,000. BNP Paribas Financial Markets increased its position in shares of Sealed Air by 158.5% during the 4th quarter. BNP Paribas Financial Markets now owns 322,620 shares of the industrial products company’s stock valued at $11,782,000 after purchasing an additional 197,799 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Sealed Air by 9.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock valued at $6,750,000 after buying an additional 15,710 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sealed Air in the 1st quarter worth approximately $582,000. Finally, Point72 Europe London LLP bought a new stake in Sealed Air in the fourth quarter worth $852,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 1.4 %

Shares of SEE stock opened at $33.31 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The stock has a market cap of $4.85 billion, a P/E ratio of 13.38, a PEG ratio of 8.55 and a beta of 1.34. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $41.14. The company’s fifty day simple moving average is $34.96 and its two-hundred day simple moving average is $35.47.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 EPS. Analysts predict that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.40%. Sealed Air’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

Several research firms recently issued reports on SEE. Citigroup cut their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company upped their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. UBS Group decreased their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada cut Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, Stifel Nicolaus assumed coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Sealed Air currently has an average rating of “Hold” and a consensus target price of $41.82.

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.