Allspring Global Investments Holdings LLC Decreases Holdings in Sealed Air Co. (NYSE:SEE)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Sealed Air Co. (NYSE:SEE) by 37.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,767 shares of the industrial products company’s stock after selling 1,066 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sealed Air were worth $64,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Sealed Air by 7.5% during the first quarter. Commonwealth Equity Services LLC now owns 15,411 shares of the industrial products company’s stock worth $573,000 after acquiring an additional 1,079 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sealed Air during the first quarter valued at $582,000. Janney Montgomery Scott LLC grew its holdings in shares of Sealed Air by 9.3% during the first quarter. Janney Montgomery Scott LLC now owns 25,334 shares of the industrial products company’s stock valued at $942,000 after buying an additional 2,156 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Sealed Air during the first quarter valued at $31,000. Finally, Texas Permanent School Fund Corp lifted its position in Sealed Air by 1.2% during the first quarter. Texas Permanent School Fund Corp now owns 126,283 shares of the industrial products company’s stock valued at $4,698,000 after purchasing an additional 1,527 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Price Performance

Shares of SEE opened at $36.27 on Tuesday. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The firm’s fifty day simple moving average is $35.21 and its 200-day simple moving average is $35.57. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 9.16 and a beta of 1.34. 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 announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the business earned $0.80 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Equities analysts forecast that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Dividend Announcement

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 given a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SEE shares. UBS Group decreased their price objective 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. 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 price objective for the company. JPMorgan Chase & Co. dropped their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Stifel Nicolaus began coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price target for the company. Finally, Wells Fargo & Company increased their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.