State Street Corp lowered its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,988,047 shares of the industrial products company's stock after selling 59,142 shares during the quarter. State Street Corp owned about 3.42% of Sealed Air worth $181,066,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in shares of 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 valued at $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Sealed Air in the 3rd quarter valued at $139,800,000. Dimensional Fund Advisors LP increased its stake in Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company's stock valued at $66,475,000 after buying an additional 479,675 shares during the period. Deprince Race & Zollo Inc. raised its position in Sealed Air by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company's stock worth $64,571,000 after buying an additional 24,940 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 502,999 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.
Shares of SEE opened at $36.35 on Friday. The firm has a fifty day moving average of $35.98 and a 200-day moving average of $35.73. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 5.05 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. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14.
Sealed Air (NYSE:SEE - Get Free Report) last released 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 return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Sealed Air's payout ratio is 29.41%.
A number of research analysts have recently issued reports on the stock. Raymond James upgraded shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. Truist Financial cut their price objective on Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.
Check Out Our Latest Research Report on SEE
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Sealed Air, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sealed Air wasn't on the list.
While Sealed Air currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.