Brandywine Global Investment Management LLC has significantly increased its investment in Sealed Air Corporation (NYSE: SEE) by raising its stake by 24.1% during the second quarter of 2023. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Brandywine now holds 633,465 shares of the industrial products company, following the acquisition of an additional 123,040 shares during this period. As of the latest disclosure, Brandywine’s holdings in Sealed Air are valued at approximately $19.7 million, representing 0.43% of the company’s total shares.
Other institutional investors have also adjusted their positions in Sealed Air recently. For instance, Impax Asset Management Group plc increased its holdings by 18.6%, bringing its total to 680,824 shares valued at $21.1 million. Furthermore, Alberta Investment Management Corp boosted its stake by a notable 43.3%, now owning 2,287,300 shares worth around $71 million after purchasing an additional 691,200 shares.
Russell Investments Group Ltd. expanded its position by 9.4%, acquiring an additional 9,052 shares, bringing its total to 105,651 shares, valued at $3.1 million. The Public Sector Pension Investment Board increased its stake by 43.1% in the first quarter, now holding 519,339 shares valued at approximately $15 million. Additionally, T. Rowe Price Investment Management Inc. raised its stake by 1.9%, owning 12,545,129 shares worth about $362.6 million. Overall, institutional investors hold 94.4% of Sealed Air’s stock.
Analysts Weigh In on Sealed Air Stock
Several equities research analysts have shared their insights regarding Sealed Air’s stock performance. Notably, JPMorgan Chase & Co. raised their price target from $36.00 to $38.00 and assigned an “overweight” rating. In contrast, Wall Street Zen downgraded the stock from a “strong-buy” to a “buy” rating.
On October 17, Raymond James Financial reaffirmed a “strong-buy” rating, increasing their price target to $50.00. Similarly, Mizuho raised their price objective from $36.00 to $41.00, giving an “outperform” rating. Meanwhile, Morgan Stanley adjusted their target price from $31.00 to $41.00, assigning an “equal weight” rating. According to data from MarketBeat.com, the stock currently holds a consensus rating of “Moderate Buy” with an average price target of $42.83.
Sealed Air’s Financial Performance and Upcoming Dividend
On November 4, 2023, Sealed Air Corporation announced its latest earnings results, reporting earnings per share (EPS) of $0.87. This figure exceeds analysts’ expectations of $0.68 by $0.19. The company also recorded revenue of $1.35 billion, surpassing forecasts of $1.31 billion. Sealed Air posted a net margin of 5.46% and a robust return on equity of 60.61%. For the fiscal year 2025, the company has set guidance for EPS between $3.250 and $3.350.
In addition to its financial results, Sealed Air announced a quarterly dividend of $0.20 per share, scheduled for payment on December 19, 2023. Shareholders of record on December 5, 2023 will receive this dividend, which reflects an annualized payout of $0.80 and a dividend yield of 1.9%. The company’s payout ratio stands at 25.97%.
Sealed Air Corporation continues to provide comprehensive packaging solutions across various regions, including the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. Operating through two segments—Food and Protective—the company offers a range of packaging materials and automation equipment aimed at enhancing food safety, extending shelf life, and minimizing waste.
