Sealed Air Co. (NYSE:SEE) Stock Holdings Reduced by XTX Topco Ltd

XTX Topco Ltd cut its position in shares of Sealed Air Co. (NYSE:SEE) by 65.0% in the third quarter, Holdings Channel reports. The firm owned 10,905 shares of the industrial products company’s stock after selling 20,209 shares during the period. XTX Topco Ltd’s holdings in Sealed Air were worth $396,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Empowered Funds LLC bought a new position in Sealed Air during the third quarter valued at approximately $1,497,000. Maple Rock Capital Partners Inc. raised its holdings in shares of Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after purchasing an additional 548,493 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of Sealed Air by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares during the last quarter. Van ECK Associates Corp bought a new stake in Sealed Air in the second quarter worth $2,098,000. Finally, Commerce Bank increased its position in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after buying an additional 14,766 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on SEE shares. 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. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. Royal Bank of Canada cut their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Morgan Stanley started coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective on the stock. Finally, StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

NYSE:SEE opened at $35.96 on Monday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.97 and a beta of 1.34. The company has a 50-day moving average of $35.99 and a 200-day moving average of $35.70. Sealed Air Co. has a 52 week low of $30.87 and a 52 week 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.

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

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

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.