Sendero Wealth Management LLC Has $298,000 Holdings in Sealed Air Co. (NYSE:SEE)

Sendero Wealth Management LLC boosted its position in Sealed Air Co. (NYSE:SEE) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,215 shares of the industrial products company’s stock after purchasing an additional 550 shares during the period. Sendero Wealth Management LLC’s holdings in Sealed Air were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in Sealed Air during the 2nd quarter worth approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in Sealed Air in the first quarter valued at $31,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air during the 2nd quarter worth $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the 1st quarter worth $52,000. Finally, Covestor Ltd lifted its holdings in Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,400 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Down 1.0 %

NYSE SEE traded down $0.33 during mid-day trading on Thursday, hitting $34.31. The company’s stock had a trading volume of 290,158 shares, compared to its average volume of 1,544,768. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $41.14. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 8.96 and a beta of 1.34. The company’s 50 day simple moving average is $34.58 and its 200 day simple moving average is $35.35. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. Analysts anticipate that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, September 13th. Sealed Air’s payout ratio is currently 32.13%.

Analyst Ratings Changes

Several research firms have issued reports on SEE. UBS Group lowered their price target on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Truist Financial reaffirmed a “buy” rating and set a $44.00 price target on shares of Sealed Air in a research report on Monday, June 17th. Jefferies Financial Group downgraded 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 research note on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Stifel Nicolaus began coverage on Sealed Air in a research note on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of “Hold” and an average price target of $41.30.

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.