Sealed Air Co. (NYSE:SEE) Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in Sealed Air Co. (NYSE:SEE) by 10.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 77,789 shares of the industrial products company’s stock after selling 9,290 shares during the quarter. Algert Global LLC’s holdings in Sealed Air were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC boosted its holdings in Sealed Air by 49.2% during the third quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company’s stock worth $771,000 after buying an additional 7,003 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Sealed Air by 3.4% in the third quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 466 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Sealed Air by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after acquiring an additional 502,999 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Sealed Air during the 3rd quarter valued at about $139,800,000. Finally, Commerce Bank increased its stake in shares of Sealed Air by 67.6% in the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock valued at $1,329,000 after purchasing an additional 14,766 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SEE shares. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Thursday, October 17th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Morgan Stanley began coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Performance

NYSE SEE opened at $35.95 on Wednesday. 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 fifty day moving average is $35.74 and its two-hundred day moving average is $35.85. The firm has a market capitalization of $5.24 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share 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 firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The company 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 is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio is currently 29.41%.

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.