Crossmark Global Holdings Inc. Has $683,000 Position in Sealed Air Co. (NYSE:SEE)

Crossmark Global Holdings Inc. lessened its stake in shares of Sealed Air Co. (NYSE:SEE) by 64.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,812 shares of the industrial products company’s stock after selling 33,980 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Sealed Air were worth $683,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Assetmark Inc. lifted its position in Sealed Air by 1.8% during the third quarter. Assetmark Inc. now owns 55,570 shares of the industrial products company’s stock worth $2,017,000 after acquiring an additional 961 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Sealed Air by 129.1% during the 3rd quarter. Van ECK Associates Corp now owns 138,186 shares of the industrial products company’s stock worth $5,019,000 after purchasing an additional 77,881 shares during the last quarter. Atlas Financial Advisors Inc. boosted its stake in Sealed Air by 12.0% in the 3rd quarter. Atlas Financial Advisors Inc. now owns 7,527 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 807 shares during the period. New York State Teachers Retirement System grew its holdings in Sealed Air by 5.5% in the 3rd quarter. New York State Teachers Retirement System now owns 166,502 shares of the industrial products company’s stock valued at $6,044,000 after buying an additional 8,669 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in Sealed Air by 51.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 129,129 shares of the industrial products company’s stock worth $4,686,000 after buying an additional 43,635 shares during the period. Institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

Shares of SEE stock opened at $35.86 on Friday. The business has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $35.82. The company has a market cap of $5.22 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.93 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. On average, sell-side analysts forecast that Sealed Air Co. will post 3.07 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analyst Weigh In

Several research firms recently commented on SEE. Morgan Stanley assumed coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Truist Financial cut their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Eight equities research 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

About Sealed Air

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.