Atria Investments Inc Sells 3,678 Shares of Sealed Air Co. (NYSE:SEE)

Atria Investments Inc lessened its holdings in shares of Sealed Air Co. (NYSE:SEE) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,979 shares of the industrial products company’s stock after selling 3,678 shares during the period. Atria Investments Inc’s holdings in Sealed Air were worth $1,233,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Family Firm Inc. bought a new position in Sealed Air in the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air in the 2nd quarter worth about $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air in the 1st quarter worth about $52,000. Covestor Ltd boosted its stake in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

NYSE SEE opened at $35.86 on Friday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The firm has a market capitalization of $5.22 billion, a P/E ratio of 13.18, a PEG ratio of 4.93 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a 50-day moving average price of $35.48 and a 200-day moving average price of $35.85.

Sealed Air (NYSE:SEE) last released 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 company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. Equities research analysts anticipate that Sealed Air Co. will post 3.07 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is 29.41%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SEE shares. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Morgan Stanley started coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. Royal Bank of Canada decreased their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. Finally, Truist Financial decreased their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.