Sealed Air Co. (NYSE:SEE) Shares Sold by Park Place Capital Corp

Park Place Capital Corp reduced its position in Sealed Air Co. (NYSE:SEE) by 48.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC acquired a new stake in shares of Sealed Air in the 1st quarter worth $304,000. Cardinal Capital Management increased its stake in shares of Sealed Air by 20.1% in the 1st quarter. Cardinal Capital Management now owns 33,311 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 5,586 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Sealed Air by 11.7% in the 1st quarter. Sound Income Strategies LLC now owns 46,633 shares of the industrial products company’s stock worth $1,735,000 after acquiring an additional 4,878 shares during the last quarter. Kwmg LLC increased its stake in shares of Sealed Air by 6.4% in the 1st quarter. Kwmg LLC now owns 109,182 shares of the industrial products company’s stock worth $4,062,000 after acquiring an additional 6,599 shares during the last quarter. Finally, Thompson Investment Management Inc. increased its stake in shares of Sealed Air by 6.3% in the 1st quarter. Thompson Investment Management Inc. now owns 64,844 shares of the industrial products company’s stock worth $2,412,000 after acquiring an additional 3,853 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on SEE shares. Mizuho raised 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. William Blair reissued a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research report on Monday, June 17th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.90.

Sealed Air Price Performance

Shares of NYSE SEE opened at $34.11 on Wednesday. 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 Co. has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The firm has a market capitalization of $4.97 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 3.12 and a beta of 1.35. The stock’s 50-day simple moving average is $36.59 and its 200-day simple moving average is $35.83.

Sealed Air (NYSE:SEE) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Dividend Announcement

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

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.