Sealed Air Co. (NYSE:SEE) Holdings Reduced by Meyer Handelman Co.

Meyer Handelman Co. cut its holdings in shares of Sealed Air Co. (NYSE:SEE) by 17.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 47,050 shares of the industrial products company’s stock after selling 10,238 shares during the period. Meyer Handelman Co.’s holdings in Sealed Air were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the 2nd quarter valued at $34,000. GAMMA Investing LLC raised its stake in shares of Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 907 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 2,445 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Sealed Air in the 2nd quarter valued at about $105,000. Finally, Quarry LP grew its position in Sealed Air by 230.1% in the 2nd quarter. Quarry LP now owns 3,390 shares of the industrial products company’s stock valued at $118,000 after buying an additional 2,363 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Trading Up 1.0 %

Sealed Air stock opened at $33.98 on Wednesday. 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. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 4.97 and a beta of 1.34. The company has a 50 day moving average price of $35.23 and a 200 day moving average price of $35.18.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Research analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.35%. Sealed Air’s dividend payout ratio is 29.41%.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company decreased their price target on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Citigroup dropped their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group cut their price objective on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Eight 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.