United Capital Financial Advisers LLC lowered its holdings in shares of Sealed Air Corp (NYSE:SEE) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,836 shares of the industrial products company’s stock after selling 421 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Sealed Air were worth $1,148,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Sealed Air by 1.7% during the second quarter. Janus Henderson Group PLC now owns 8,347,252 shares of the industrial products company’s stock worth $357,096,000 after buying an additional 143,411 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in shares of Sealed Air by 2.4% during the first quarter. Marshall Wace North America L.P. now owns 6,143,862 shares of the industrial products company’s stock worth $282,986,000 after buying an additional 144,425 shares in the last quarter. Rivulet Capital LLC grew its holdings in shares of Sealed Air by 1.1% during the first quarter. Rivulet Capital LLC now owns 4,401,066 shares of the industrial products company’s stock worth $202,713,000 after buying an additional 48,750 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Sealed Air by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 2,113,877 shares of the industrial products company’s stock worth $73,522,000 after buying an additional 136,235 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Sealed Air by 1.8% during the second quarter. BNP Paribas Arbitrage SA now owns 1,461,275 shares of the industrial products company’s stock worth $62,513,000 after buying an additional 25,990 shares in the last quarter. 96.58% of the stock is currently owned by institutional investors.
SEE stock traded down $0.05 during mid-day trading on Friday, reaching $41.26. The company had a trading volume of 748,454 shares, compared to its average volume of 1,532,046. The stock has a 50 day simple moving average of $41.93 and a two-hundred day simple moving average of $43.59. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.47 and a beta of 1.08. Sealed Air Corp has a 52 week low of $30.22 and a 52 week high of $47.13.
The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 1.55%. Sealed Air’s dividend payout ratio is 25.60%.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Sealed Air from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Bank of America downgraded Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective for the company. in a report on Friday, June 21st. Wells Fargo & Co increased their price objective on Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Finally, KeyCorp reiterated a “sell” rating and set a $39.00 price objective on shares of Sealed Air in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $42.69.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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