Harbor Investment Advisory LLC lessened its holdings in Sealed Air Co. (NYSE:SEE – Get Rating) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,938 shares of the industrial products company's stock after selling 325 shares during the period. Harbor Investment Advisory LLC's holdings in Sealed Air were worth $170,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in SEE. Mutual of America Capital Management LLC increased its holdings in Sealed Air by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,773 shares of the industrial products company's stock valued at $1,324,000 after purchasing an additional 208 shares in the last quarter. Ellevest Inc. grew its stake in shares of Sealed Air by 269.0% in the first quarter. Ellevest Inc. now owns 369 shares of the industrial products company's stock valued at $25,000 after buying an additional 269 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Sealed Air by 2.3% during the 1st quarter. M&T Bank Corp now owns 12,075 shares of the industrial products company's stock valued at $808,000 after buying an additional 275 shares during the period. Xponance Inc. lifted its position in Sealed Air by 1.6% during the 1st quarter. Xponance Inc. now owns 18,097 shares of the industrial products company's stock worth $1,212,000 after acquiring an additional 291 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in Sealed Air by 2.3% in the 1st quarter. Empirical Finance LLC now owns 13,443 shares of the industrial products company's stock worth $900,000 after acquiring an additional 303 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.
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Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on SEE. Mizuho dropped their price objective on shares of Sealed Air from $72.00 to $68.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. raised shares of Sealed Air from an "underweight" rating to a "neutral" rating and dropped their price target for the stock from $62.00 to $58.00 in a research note on Tuesday, August 30th. Wells Fargo & Company decreased their price objective on shares of Sealed Air from $62.00 to $56.00 and set an "equal weight" rating for the company in a research report on Friday, September 16th. Royal Bank of Canada upgraded Sealed Air from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $66.00 to $70.00 in a research note on Wednesday, August 3rd. Finally, Morgan Stanley cut their price target on Sealed Air from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Sealed Air currently has a consensus rating of "Hold" and a consensus target price of $68.18.
Sealed Air Stock Performance
SEE stock opened at $44.31 on Tuesday. The stock's 50 day simple moving average is $55.15 and its 200 day simple moving average is $60.32. Sealed Air Co. has a 12-month low of $44.02 and a 12-month high of $70.72. The firm has a market cap of $6.44 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.77 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.72 and a debt-to-equity ratio of 18.30.
Sealed Air (NYSE:SEE – Get Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.03. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air Co. will post 4.15 EPS for the current year.
Sealed Air Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.81%. Sealed Air's payout ratio is currently 21.74%.
Insider Activity
In related news, SVP Sergio A. Pupkin purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $57.66 per share, with a total value of $57,660.00. Following the acquisition, the senior vice president now owns 45,748 shares in the company, valued at approximately $2,637,829.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Sergio A. Pupkin bought 1,000 shares of the company's stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $57.66 per share, with a total value of $57,660.00. Following the completion of the transaction, the senior vice president now directly owns 45,748 shares of the company's stock, valued at $2,637,829.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward L. Doheny II bought 4,500 shares of the business's stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $56.95 per share, for a total transaction of $256,275.00. Following the completion of the purchase, the chief executive officer now directly owns 515,254 shares of the company's stock, valued at approximately $29,343,715.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 7,000 shares of company stock valued at $395,640. 0.44% of the stock is currently owned by insiders.
Sealed Air Company Profile
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Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.
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