Cardinal Capital Management Has $1.21 Million Stake in Sealed Air Co. (NYSE:SEE)

Cardinal Capital Management boosted its position in shares of Sealed Air Co. (NYSE:SEE) by 4.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,778 shares of the industrial products company’s stock after buying an additional 1,467 shares during the period. Cardinal Capital Management’s holdings in Sealed Air were worth $1,210,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SEE. Vanguard Group Inc. boosted its position in Sealed Air by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after buying an additional 600,146 shares during the period. Hsbc Holdings PLC boosted its holdings in Sealed Air by 2,549.6% during the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock worth $195,720,000 after acquiring an additional 5,138,700 shares during the last quarter. Earnest Partners LLC boosted its holdings in Sealed Air by 7.3% during the 1st quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after acquiring an additional 170,846 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Sealed Air during the 4th quarter worth $86,410,000. Finally, Norges Bank purchased a new position in shares of Sealed Air in the 4th quarter worth about $52,968,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

Shares of SEE traded down $2.44 during midday trading on Friday, hitting $33.12. 5,738,566 shares of the company traded hands, compared to its average volume of 1,193,024. The firm has a 50 day moving average of $36.31 and a 200-day moving average of $35.73. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $41.14. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 4.27 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue was down 2.6% on a year-over-year basis. On average, analysts forecast that Sealed Air Co. will post 2.86 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, September 13th. Sealed Air’s payout ratio is 32.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus started coverage on Sealed Air in a research note on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price objective on the stock. UBS Group decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 17th. Royal Bank of Canada lowered Sealed Air from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $43.00 to $40.00 in a research note on Friday, July 19th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.60.

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.