Park Place Capital Corp Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Park Place Capital Corp decreased its holdings in Sealed Air Co. (NYSE:SEE) by 48.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 764 shares of the industrial products company’s stock after selling 722 shares during the quarter. Park Place Capital Corp’s holdings in Sealed Air were worth $28,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CVA Family Office LLC bought a new stake in Sealed Air during the 4th quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in Sealed Air during the 4th quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV raised its stake in Sealed Air by 81.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 449 shares during the period. CoreFirst Bank & Trust bought a new stake in Sealed Air during the 3rd quarter worth approximately $42,000. Finally, Signaturefd LLC raised its stake in Sealed Air by 43.2% during the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 462 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 0.0 %

Shares of SEE opened at $34.11 on Wednesday. The company’s fifty day moving average is $36.59 and its 200 day moving average is $35.83. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The stock has a market capitalization of $4.97 billion, a PE ratio of 13.70, a P/E/G ratio of 3.12 and a beta of 1.35. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. Sealed Air’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 earnings per share. Sell-side analysts expect that Sealed Air Co. will post 2.89 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, June 14th. Sealed Air’s payout ratio is 32.13%.

Analyst Ratings Changes

SEE has been the topic of a number of recent analyst reports. Mizuho upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and raised their target price for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. William Blair reiterated a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.90.

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.