Sealed Air Co. (NYSE:SEE) Position Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in shares of Sealed Air Co. (NYSE:SEE) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,712 shares of the industrial products company’s stock after selling 4,806 shares during the period. Wedge Capital Management L L P NC’s holdings in Sealed Air were worth $1,079,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SEE. Family Firm Inc. bought a new stake in Sealed Air during the 2nd quarter valued at $26,000. Fidelis Capital Partners LLC bought a new stake in Sealed Air during the 1st quarter valued at $31,000. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the 2nd quarter valued at $34,000. Allspring Global Investments Holdings LLC bought a new stake in Sealed Air during the 1st quarter valued at $52,000. Finally, Covestor Ltd raised its stake in Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SEE. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus began coverage on Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price target on the stock. Truist Financial lowered their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and lowered their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, Morgan Stanley began coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and an average price target of $41.00.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $35.29 on Thursday. The stock has a market cap of $5.14 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 8.72 and a beta of 1.34. The business has a fifty day simple moving average of $34.53 and a 200-day simple moving average of $35.30. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $41.14.

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

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. Sealed Air’s payout ratio is 32.13%.

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.