Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,558 Shares of Sealed Air Co. (NYSE:SEE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 8.7% during the 3rd quarter, Holdings Channel reports. The fund owned 32,089 shares of the industrial products company’s stock after buying an additional 2,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sealed Air were worth $1,165,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cardinal Capital Management boosted its stake in shares of Sealed Air by 4.4% during the second quarter. Cardinal Capital Management now owns 34,778 shares of the industrial products company’s stock valued at $1,210,000 after purchasing an additional 1,467 shares in the last quarter. SG Americas Securities LLC boosted its position in Sealed Air by 336.5% during the 2nd quarter. SG Americas Securities LLC now owns 108,664 shares of the industrial products company’s stock valued at $3,780,000 after acquiring an additional 83,770 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Sealed Air by 37.3% in the 2nd quarter. Sound Income Strategies LLC now owns 64,010 shares of the industrial products company’s stock valued at $2,227,000 after acquiring an additional 17,377 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Sealed Air by 19.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,494 shares of the industrial products company’s stock worth $574,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Sealed Air during the second quarter valued at about $803,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

SEE has been the topic of a number of analyst reports. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 17th. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $35.00 in a report on Friday, August 9th. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada cut their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price objective 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. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

Shares of SEE opened at $36.43 on Friday. The business’s 50-day moving average is $35.93 and its two-hundred day moving average is $35.77. The company has a market capitalization of $5.31 billion, a P/E ratio of 13.39, a P/E/G ratio of 5.07 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company earned $0.77 earnings per share. Sealed Air’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is currently 29.41%.

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.