Sealed Air Co. (NYSE:SEE) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP lowered its holdings in shares of Sealed Air Co. (NYSE:SEE) by 74.8% during the 2nd quarter, Holdings Channel reports. The fund owned 7,014 shares of the industrial products company’s stock after selling 20,856 shares during the period. Qsemble Capital Management LP’s holdings in Sealed Air were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SEE. American Century Companies Inc. lifted its holdings in Sealed Air by 4.8% in the second quarter. American Century Companies Inc. now owns 31,877 shares of the industrial products company’s stock worth $1,109,000 after purchasing an additional 1,468 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of Sealed Air in the 2nd quarter worth approximately $1,006,000. Chesapeake Capital Corp IL bought a new position in shares of Sealed Air in the second quarter valued at approximately $481,000. United Services Automobile Association increased its stake in shares of Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 393 shares during the period. Finally, Choreo LLC bought a new stake in Sealed Air during the second quarter worth approximately $338,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Truist Financial reissued a “buy” rating and issued a $44.00 price objective on shares of Sealed Air in a research note on Monday, June 17th. UBS Group reduced their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Jefferies Financial Group cut 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. Morgan Stanley started coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.30.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $33.26 on Friday. The firm has a fifty day moving average price of $34.87 and a two-hundred day moving average price of $35.39. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The company has a market cap of $4.84 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 8.33 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts expect that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) 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.