APG Asset Management N.V. Sells 86,119 Shares of Sealed Air Co. (NYSE:SEE)

APG Asset Management N.V. cut its holdings in Sealed Air Co. (NYSE:SEE) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 828,911 shares of the industrial products company’s stock after selling 86,119 shares during the period. APG Asset Management N.V.’s holdings in Sealed Air were worth $26,907,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SEE. Vanguard Group Inc. increased its position in Sealed Air by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after buying an additional 600,146 shares during the period. Earnest Partners LLC grew its stake in shares of Sealed Air by 7.3% in the first quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after acquiring an additional 170,846 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Sealed Air during the fourth quarter worth $86,410,000. Dimensional Fund Advisors LP raised its stake in Sealed Air by 33.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the last quarter. Finally, Appian Way Asset Management LP boosted its holdings in Sealed Air by 68.1% in the 2nd 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 during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Trading Up 0.2 %

Shares of SEE stock opened at $36.67 on Friday. The company has a market capitalization of $5.34 billion, a P/E ratio of 14.73, a P/E/G ratio of 9.01 and a beta of 1.34. Sealed Air Co. has a 12-month low of $28.50 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The firm has a 50-day moving average price of $34.83 and a 200 day moving average price of $35.39.

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

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, September 13th. Sealed Air’s payout ratio is presently 32.13%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. 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 for the company. UBS Group decreased their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Finally, Wells Fargo & Company lifted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.30.

Sealed Air 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.