Janus Henderson Group PLC Lowers Holdings in Sealed Air Co. (NYSE:SEE)

Janus Henderson Group PLC cut its holdings in Sealed Air Co. (NYSE:SEE) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,100 shares of the industrial products company’s stock after selling 7,100 shares during the period. Janus Henderson Group PLC’s holdings in Sealed Air were worth $2,290,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SEE. Pacer Advisors Inc. purchased a new stake in shares of Sealed Air in the third quarter worth about $139,800,000. Swedbank AB purchased a new stake in Sealed Air in the third quarter worth $53,681,000. Millennium Management LLC raised its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Appian Way Asset Management LP lifted its stake in Sealed Air by 68.1% in the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock worth $46,962,000 after acquiring an additional 546,701 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after purchasing an additional 502,999 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Up 0.7 %

Shares of SEE stock opened at $36.35 on Friday. The stock’s fifty day moving average is $35.98 and its two-hundred day moving average is $35.73. 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 firm has a market capitalization of $5.30 billion, a P/E ratio of 13.36, a PEG ratio of 5.05 and a beta of 1.34. 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 announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Sealed Air’s dividend payout ratio is presently 29.41%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SEE. JPMorgan Chase & Co. cut their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada dropped their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial dropped their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Moderate Buy” and an average target price 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.