Sealed Air Co. (NYSE:SEE) Stock Position Reduced by Covestor Ltd

Covestor Ltd trimmed its position in Sealed Air Co. (NYSE:SEE) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,487 shares of the industrial products company’s stock after selling 380 shares during the quarter. Covestor Ltd’s holdings in Sealed Air were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. increased its position in Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock valued at $506,000 after acquiring an additional 380 shares during the period. United Services Automobile Association grew its stake in shares of Sealed Air by 3.5% in the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in shares of Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 467 shares during the period. Sendero Wealth Management LLC raised its stake in shares of Sealed Air by 7.2% during the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 550 shares in the last quarter. Finally, MADDEN SECURITIES Corp lifted its holdings in Sealed Air by 9.1% in the second quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 600 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Price Performance

NYSE SEE opened at $35.72 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a market cap of $5.20 billion, a PE ratio of 13.13, a PEG ratio of 4.92 and a beta of 1.34. The stock’s 50-day moving average price is $35.41 and its two-hundred day moving average price is $35.79.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SEE shares. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. UBS Group cut their target price on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. StockNews.com lowered Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Morgan Stanley began coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.