Oppenheimer & Co. Inc. Sells 2,960 Shares of Sealed Air Co. (NYSE:SEE)

Oppenheimer & Co. Inc. decreased its position in Sealed Air Co. (NYSE:SEE) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,621 shares of the industrial products company’s stock after selling 2,960 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Sealed Air were worth $1,257,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SEE. Swedbank AB bought a new position in Sealed Air in the third quarter worth $53,681,000. Millennium Management LLC raised its holdings in Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Appian Way Asset Management LP bought a new position in Sealed Air in the first quarter worth $29,877,000. Vanguard Group Inc. raised its holdings in Sealed Air by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after purchasing an additional 600,146 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after purchasing an additional 479,675 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 2.5 %

Shares of NYSE:SEE opened at $34.96 on Tuesday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 4.96 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock’s 50-day simple moving average is $35.51 and its two-hundred day simple moving average is $35.87. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14.

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

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.29%. Sealed Air’s payout ratio is 29.41%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Finally, StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and a consensus 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.