Quantbot Technologies LP Decreases Stock Holdings in Sealed Air Co. (NYSE:SEE)

Quantbot Technologies LP decreased its holdings in Sealed Air Co. (NYSE:SEE) by 80.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,634 shares of the industrial products company’s stock after selling 42,552 shares during the quarter. Quantbot Technologies LP’s holdings in Sealed Air were worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of SEE. Millennium Management LLC lifted its stake in shares of Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after buying an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Sealed Air in the third quarter worth approximately $139,800,000. Dimensional Fund Advisors LP grew its position in shares of Sealed Air by 33.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock worth $66,475,000 after purchasing an additional 479,675 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after buying an additional 24,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Sealed Air by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial cut their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company increased their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. 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 report on Thursday, October 17th. JPMorgan Chase & Co. reduced their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Eight 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Performance

NYSE SEE opened at $36.65 on Wednesday. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The business’s 50-day moving average price is $35.86 and its 200 day moving average price is $35.77. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a market cap of $5.34 billion, a P/E ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating 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 firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be 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 is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) 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.