Wealth Enhancement Advisory Services LLC Cuts Position in Sealed Air Co. (NYSE:SEE)

Wealth Enhancement Advisory Services LLC lowered its holdings in Sealed Air Co. (NYSE:SEE) by 6.9% in the second quarter, Holdings Channel.com reports. The fund owned 7,149 shares of the industrial products company’s stock after selling 526 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Sealed Air were worth $249,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air in the first quarter valued at about $31,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sealed Air during the 1st quarter valued at approximately $52,000. Signaturefd LLC lifted its position in shares of Sealed Air by 43.2% during the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 462 shares during the period. Covestor Ltd grew its holdings in shares of 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 acquiring an additional 1,400 shares during the period. Finally, Principal Securities Inc. purchased a new position in Sealed Air in the 4th quarter valued at approximately $61,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SEE has been the topic of a number of research analyst reports. Citigroup decreased their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Royal Bank of Canada cut shares of Sealed Air from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $43.00 to $40.00 in a research report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.10.

Sealed Air Stock Up 0.2 %

SEE stock opened at $34.95 on Tuesday. The company has a 50 day moving average price of $35.21 and a two-hundred day moving average price of $35.58. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. The stock has a market capitalization of $5.09 billion, a P/E ratio of 14.04, a PEG ratio of 8.43 and a beta of 1.35. Sealed Air Co. has a one year low of $28.50 and a one year high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Sealed Air Co. will post 2.91 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. Sealed Air’s payout ratio is currently 32.13%.

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.