Truist Financial Corp Sells 1,856 Shares of Sealed Air Co. (NYSE:SEE)

Truist Financial Corp reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 10.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,573 shares of the industrial products company’s stock after selling 1,856 shares during the quarter. Truist Financial Corp’s holdings in Sealed Air were worth $577,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in Sealed Air in the second quarter valued at approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air during the first quarter worth $31,000. Allspring Global Investments Holdings LLC bought a new stake in Sealed Air in the first quarter valued at about $52,000. Covestor Ltd boosted its holdings in Sealed Air by 651.2% during the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after buying an additional 2,445 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Price Performance

NYSE:SEE opened at $34.99 on Wednesday. The firm’s 50-day simple moving average is $34.52 and its 200 day simple moving average is $35.30. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $41.14. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 8.72 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30.

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

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, September 13th. Sealed Air’s dividend payout ratio is presently 32.26%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SEE shares. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and lowered their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Wells Fargo & Company boosted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Royal Bank of Canada cut Sealed Air from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $43.00 to $40.00 in a report on Friday, July 19th. Finally, UBS Group dropped their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Hold” and a consensus target price 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.