Barclays PLC Sells 345,142 Shares of Sealed Air Co. (NYSE:SEE)

Barclays PLC lessened its holdings in shares of Sealed Air Co. (NYSE:SEE) by 64.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 192,736 shares of the industrial products company’s stock after selling 345,142 shares during the period. Barclays PLC’s holdings in Sealed Air were worth $6,995,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its holdings in Sealed Air by 19.3% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,494 shares of the industrial products company’s stock worth $574,000 after purchasing an additional 2,668 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Sealed Air by 2.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 73,300 shares of the industrial products company’s stock worth $2,550,000 after buying an additional 1,800 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Sealed Air by 5.8% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 18,970 shares of the industrial products company’s stock valued at $660,000 after buying an additional 1,040 shares in the last quarter. Family Firm Inc. purchased a new position in Sealed Air during the second quarter valued at $26,000. Finally, Easterly Investment Partners LLC bought a new stake in Sealed Air in the second quarter worth $7,926,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SEE shares. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a report on Thursday, October 17th. Truist Financial decreased their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley initiated coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sealed Air has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Down 3.4 %

SEE stock opened at $34.32 on Thursday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 4.97 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. The business’s 50-day moving average is $36.02 and its two-hundred day moving average is $35.66. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS. As a group, analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.33%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

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.