Amalgamated Bank Sells 19,387 Shares of Sealed Air Co. (NYSE:SEE)

Amalgamated Bank decreased its holdings in Sealed Air Co. (NYSE:SEE) by 29.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,724 shares of the industrial products company’s stock after selling 19,387 shares during the period. Amalgamated Bank’s holdings in Sealed Air were worth $1,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in Sealed Air during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Sealed Air during the 2nd quarter worth about $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the 1st quarter valued at about $52,000. Covestor Ltd raised its position in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,400 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Down 0.8 %

SEE opened at $35.60 on Wednesday. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The stock has a fifty day moving average price of $35.38 and a 200-day moving average price of $35.79. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 8.82 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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. This represents a $0.80 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio is currently 29.41%.

Analysts Set New Price Targets

SEE has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and decreased their target price for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Finally, Raymond James upgraded shares of 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. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

About Sealed Air

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.