Oppenheimer & Co. Inc. Lowers Stock Position in Sealed Air Co. (NYSE:SEE)

Oppenheimer & Co. Inc. reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 7.9% during the third quarter, Holdings Channel reports. The institutional investor owned 34,621 shares of the industrial products company’s stock after selling 2,960 shares during the period. Oppenheimer & Co. Inc.’s holdings in Sealed Air were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Everence Capital Management Inc. lifted its position in shares of Sealed Air by 2.8% during the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock valued at $506,000 after buying an additional 380 shares in the last quarter. United Services Automobile Association lifted its position in shares of Sealed Air by 3.5% during the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after buying an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in Sealed Air by 1.3% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after purchasing an additional 467 shares during the period. Sendero Wealth Management LLC raised its stake in Sealed Air by 7.2% during the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 550 shares during the period. Finally, MADDEN SECURITIES Corp raised its stake in Sealed Air by 9.1% during the 2nd quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock valued at $251,000 after purchasing an additional 600 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

NYSE SEE opened at $34.96 on Tuesday. The company has a market cap of $5.09 billion, a P/E ratio of 12.85, a P/E/G ratio of 4.96 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The business’s 50 day moving average price is $35.51 and its 200-day moving average price is $35.87. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Sell-side analysts predict that Sealed Air Co. will post 3.07 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Analyst Ratings Changes

SEE has been the topic of several recent analyst reports. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial decreased their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. 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. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Eight investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

About Sealed Air

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.