Hsbc Holdings PLC Reduces Position in Sealed Air Co. (NYSE:SEE)

Hsbc Holdings PLC lessened its position in shares of Sealed Air Co. (NYSE:SEE) by 24.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,273,621 shares of the industrial products company’s stock after selling 1,056,892 shares during the quarter. Hsbc Holdings PLC’s holdings in Sealed Air were worth $114,413,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SEE. Principal Securities Inc. purchased a new position in Sealed Air during the 4th quarter worth approximately $61,000. Dimensional Fund Advisors LP grew its stake in Sealed Air by 11.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,129 shares of the industrial products company’s stock worth $49,310,000 after buying an additional 138,197 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Sealed Air by 76.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,891 shares of the industrial products company’s stock worth $471,000 after buying an additional 5,569 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Sealed Air by 36.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock worth $81,000 after buying an additional 598 shares during the last quarter. Finally, Norges Bank purchased a new position in Sealed Air during the 4th quarter worth approximately $52,968,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SEE shares. Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Wells Fargo & Company lifted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $44.00 target price on shares of Sealed Air in a research note on Monday, June 17th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.30.

Sealed Air Stock Up 0.6 %

SEE opened at $34.80 on Thursday. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The business has a 50 day simple moving average of $34.87 and a 200-day simple moving average of $35.40. The stock has a market capitalization of $5.07 billion, a P/E ratio of 13.92, a P/E/G ratio of 8.40 and a beta of 1.34. 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 quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts anticipate that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.30%. Sealed Air’s dividend payout ratio is presently 32.13%.

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.