Amalgamated Bank Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Amalgamated Bank lowered its stake in shares of Sealed Air Co. (NYSE:SEE) by 29.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,724 shares of the industrial products company’s stock after selling 19,387 shares during the quarter. Amalgamated Bank’s holdings in Sealed Air were worth $1,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEE. Family Firm Inc. acquired a new position in Sealed Air during the 2nd quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Sealed Air during the second quarter valued at $34,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sealed Air in the 1st quarter valued at $52,000. Covestor Ltd raised its stake in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,445 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SEE shares. Morgan Stanley began coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Royal Bank of Canada reduced their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company 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 dropped their price objective for the company from $47.00 to $35.00 in a report on Friday, August 9th. UBS Group decreased their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. cut 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. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Performance

Shares of NYSE:SEE opened at $35.60 on Wednesday. The business’s 50 day moving average price is $35.38 and its 200-day moving average price is $35.79. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market capitalization of $5.19 billion, a PE ratio of 13.09, a P/E/G ratio of 8.82 and a beta of 1.34.

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, topping 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that Sealed Air Co. will post 3.05 earnings per share 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. Investors of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.25%. Sealed Air’s dividend payout ratio is presently 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.