UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.94 Million Holdings in Sealed Air Co. (NYSE:SEE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Sealed Air Co. (NYSE:SEE) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 328,987 shares of the industrial products company’s stock after selling 31,258 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Sealed Air worth $11,942,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sealed Air by 8.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,089 shares of the industrial products company’s stock worth $1,165,000 after purchasing an additional 2,558 shares during the last quarter. FORA Capital LLC acquired a new position in Sealed Air in the 3rd quarter worth about $376,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Sealed Air in the 3rd quarter worth about $1,383,000. Glenmede Trust Co. NA acquired a new position in Sealed Air in the 3rd quarter worth about $321,000. Finally, Bridgewater Associates LP increased its position in Sealed Air by 38.8% in the 3rd quarter. Bridgewater Associates LP now owns 56,575 shares of the industrial products company’s stock worth $2,054,000 after purchasing an additional 15,827 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on SEE shares. Morgan Stanley started coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price on the stock. Royal Bank of Canada reduced their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 17th. Truist Financial reduced their price target on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Finally, StockNews.com cut Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday, December 2nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

NYSE SEE opened at $36.48 on Friday. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market capitalization of $5.31 billion, a PE ratio of 13.41, a P/E/G ratio of 5.16 and a beta of 1.34. The stock has a 50-day simple moving average of $35.92 and a 200 day simple moving average of $35.74.

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

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

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.