Point72 DIFC Ltd Sells 26,522 Shares of Sealed Air Co. (NYSE:SEE)

Point72 DIFC Ltd reduced its position in Sealed Air Co. (NYSE:SEE) by 73.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,370 shares of the industrial products company’s stock after selling 26,522 shares during the quarter. Point72 DIFC Ltd’s holdings in Sealed Air were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its holdings in Sealed Air by 8.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 324,038 shares of the industrial products company’s stock worth $11,273,000 after buying an additional 24,318 shares during the period. Mount Yale Investment Advisors LLC boosted its stake in shares of Sealed Air by 1.3% in the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after acquiring an additional 467 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Sealed Air by 22.4% during the second quarter. Thrivent Financial for Lutherans now owns 153,716 shares of the industrial products company’s stock worth $5,348,000 after purchasing an additional 28,148 shares in the last quarter. AE Wealth Management LLC bought a new stake in Sealed Air during the 2nd quarter valued at approximately $4,090,000. Finally, MQS Management LLC purchased a new position in Sealed Air in the 2nd quarter worth approximately $514,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

NYSE SEE opened at $36.61 on Friday. The business’s 50 day moving average price is $34.81 and its 200-day moving average price is $35.40. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The company has a market cap of $5.33 billion, a P/E ratio of 14.70, a P/E/G ratio of 8.96 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30.

Sealed Air (NYSE:SEE) last posted 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 analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. Sell-side analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given 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 dividend yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Truist Financial reiterated a “buy” rating and issued a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. Stifel Nicolaus started coverage on Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective for the company. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and decreased their target price for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company raised their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and an average price target of $41.30.

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.