Mount Yale Investment Advisors LLC Cuts Stock Position in Sealed Air Co. (NYSE:SEE)

Mount Yale Investment Advisors LLC trimmed its holdings in shares of Sealed Air Co. (NYSE:SEE) by 22.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,585 shares of the industrial products company’s stock after selling 8,058 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Sealed Air were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SEE. Isthmus Partners LLC grew its stake in shares of Sealed Air by 4.6% in the first quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock valued at $275,000 after buying an additional 322 shares in the last quarter. Everence Capital Management Inc. raised its stake in shares of Sealed Air by 2.8% during the third quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock valued at $506,000 after purchasing an additional 380 shares during the period. United Services Automobile Association lifted its position in shares of Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 393 shares in the last quarter. Sendero Wealth Management LLC lifted its position in shares of Sealed Air by 7.2% during the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 550 shares in the last quarter. Finally, MADDEN SECURITIES Corp grew its holdings 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 in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Stock Performance

Shares of SEE opened at $36.04 on Friday. Sealed Air Co. has a 52-week low of $29.92 and a 52-week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The firm has a market capitalization of $5.25 billion, a PE ratio of 14.53, a P/E/G ratio of 9.13 and a beta of 1.34. The firm has a 50-day moving average price of $34.99 and a 200 day moving average price of $35.40.

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 the consensus estimate of $0.64 by $0.19. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. On average, sell-side analysts anticipate that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio is presently 32.26%.

Analyst Upgrades and Downgrades

SEE has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target for the company. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $47.00 to $35.00 in a report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, Stifel Nicolaus initiated coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 target price for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.