Sealed Air Co. (NYSE:SEE) Holdings Trimmed by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its holdings in Sealed Air Co. (NYSE:SEE) by 11.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 69,397 shares of the industrial products company’s stock after selling 8,698 shares during the quarter. Invenomic Capital Management LP’s holdings in Sealed Air were worth $2,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SEE. Millennium Management LLC increased its stake in Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Sealed Air in the third quarter worth approximately $139,800,000. Dimensional Fund Advisors LP raised its holdings in shares of Sealed Air by 33.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after acquiring an additional 479,675 shares during the period. Deprince Race & Zollo Inc. lifted its position in shares of Sealed Air by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after acquiring an additional 24,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sealed Air by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SEE shares. Royal Bank of Canada lowered their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, October 17th. StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday. Truist Financial dropped their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Morgan Stanley began coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Eight research 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 MarketBeat, Sealed Air has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Performance

Shares of NYSE SEE opened at $36.65 on Wednesday. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The company has a market cap of $5.34 billion, a P/E ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. The business’s 50 day moving average is $35.86 and its two-hundred day moving average is $35.77. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results 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. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue was down 2.7% on a year-over-year basis. On average, equities analysts expect that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.18%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

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.