Raymond James Trust N.A. Boosts Holdings in Sealed Air Co. (NYSE:SEE)

Raymond James Trust N.A. boosted its holdings in Sealed Air Co. (NYSE:SEE) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,016 shares of the industrial products company’s stock after purchasing an additional 466 shares during the quarter. Raymond James Trust N.A.’s holdings in Sealed Air were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SEE. Pacer Advisors Inc. bought a new position in shares of Sealed Air during the third quarter worth $139,800,000. Swedbank AB bought a new position in shares of Sealed Air during the 3rd quarter valued at about $53,681,000. Millennium Management LLC boosted its holdings in shares of Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the last quarter. Appian Way Asset Management LP grew its position in shares of Sealed Air by 68.1% during the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock valued at $46,962,000 after purchasing an additional 546,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sealed Air by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have 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. Morgan Stanley initiated coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Finally, Truist Financial lowered their price target 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. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Down 1.8 %

Shares of NYSE SEE opened at $35.95 on Wednesday. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The firm has a 50-day simple moving average of $35.74 and a two-hundred day simple moving average of $35.85. The company has a market cap of $5.24 billion, a P/E ratio of 13.22, a PEG ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. Research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is presently 29.41%.

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.