EdgePoint Investment Group Inc. Grows Holdings in Sealed Air Corporation $SEE

EdgePoint Investment Group Inc. increased its holdings in Sealed Air Corporation (NYSE:SEE) by 2,079.6% in the 3rd quarter, Holdings Channel reports. The fund owned 529,082 shares of the industrial products company’s stock after buying an additional 504,808 shares during the quarter. Sealed Air accounts for about 0.1% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 29th biggest position. EdgePoint Investment Group Inc.’s holdings in Sealed Air were worth $18,703,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. bought a new stake in Sealed Air during the third quarter worth about $27,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sealed Air by 383.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 837 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 664 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Sealed Air during the third quarter valued at approximately $45,000. Anchor Investment Management LLC purchased a new position in shares of Sealed Air during the third quarter valued at approximately $49,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sealed Air by 94.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 756 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SEE. Truist Financial upped their price target on Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Robert W. Baird reiterated a “neutral” rating and set a $42.00 price objective (down from $45.00) on shares of Sealed Air in a research note on Thursday, December 18th. Raymond James Financial downgraded Sealed Air from an “outperform” rating to a “market perform” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sealed Air in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded Sealed Air from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Sealed Air presently has a consensus rating of “Moderate Buy” and an average price target of $44.09.

Sealed Air Trading Down 0.4%

NYSE:SEE opened at $41.82 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 12.19 and a beta of 1.35. The company has a quick ratio of 0.56, a current ratio of 0.91 and a debt-to-equity ratio of 2.65. The company’s 50 day moving average price is $41.84 and its 200-day moving average price is $38.95. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $44.27.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 9.43% and a return on equity of 47.21%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. On average, equities research analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Sealed Air’s payout ratio is currently 23.32%.

Sealed Air Company Profile

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.