Barclays PLC Cuts Stock Holdings in Sealed Air Co. (NYSE:SEE)

Barclays PLC reduced its stake in Sealed Air Co. (NYSE:SEE) by 64.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,736 shares of the industrial products company’s stock after selling 345,142 shares during the quarter. Barclays PLC owned about 0.13% of Sealed Air worth $6,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SEE. Y Intercept Hong Kong Ltd lifted its holdings in shares of Sealed Air by 26.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 57,141 shares of the industrial products company’s stock worth $2,074,000 after acquiring an additional 11,976 shares during the last quarter. Wellington Management Group LLP lifted its stake in Sealed Air by 8.4% during the third quarter. Wellington Management Group LLP now owns 173,959 shares of the industrial products company’s stock worth $6,315,000 after purchasing an additional 13,410 shares during the last quarter. Weiss Asset Management LP boosted its holdings in shares of Sealed Air by 68.5% in the 3rd quarter. Weiss Asset Management LP now owns 405,542 shares of the industrial products company’s stock worth $14,721,000 after purchasing an additional 164,863 shares in the last quarter. Quarry LP raised its holdings in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after buying an additional 311 shares in the last quarter. Finally, Readystate Asset Management LP raised its holdings in shares of Sealed Air by 24.4% during the 3rd quarter. Readystate Asset Management LP now owns 45,277 shares of the industrial products company’s stock valued at $1,644,000 after buying an additional 8,890 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Trading Down 3.4 %

NYSE SEE opened at $34.32 on Thursday. 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 Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The stock has a market cap of $5.00 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The stock has a 50 day simple moving average of $36.02 and a two-hundred day simple moving average of $35.66.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion during 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 firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SEE. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their target price on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Raymond James raised shares of 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 note on Thursday, October 17th. Truist Financial reduced their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Company 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.