Verition Fund Management LLC Sells 24,250 Shares of Sealed Air Co. (NYSE:SEE)

Verition Fund Management LLC lowered its stake in Sealed Air Co. (NYSE:SEE) by 50.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,970 shares of the industrial products company’s stock after selling 24,250 shares during the period. Verition Fund Management LLC’s holdings in Sealed Air were worth $870,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new position in Sealed Air in the 3rd quarter worth $1,497,000. Deprince Race & Zollo Inc. grew its position in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Sealed Air in the second quarter worth about $2,098,000. Commerce Bank lifted its position in shares of Sealed Air by 67.6% during the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 14,766 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Sealed Air during the 2nd quarter valued at approximately $514,000. Institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

SEE has been the subject of several research reports. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial decreased 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 report on Tuesday, October 15th. Morgan Stanley assumed coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Raymond James raised 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 report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Trading Up 2.1 %

Shares of SEE stock opened at $37.23 on Tuesday. The company has a market capitalization of $5.42 billion, a P/E ratio of 13.69, a P/E/G ratio of 5.05 and a beta of 1.34. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a 50-day moving average price of $35.94 and a 200 day moving average price of $35.73.

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, topping 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company earned $0.77 EPS. Sealed Air’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently announced 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 is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.15%. Sealed Air’s dividend payout ratio (DPR) is presently 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.