Sealed Air Co. (NYSE:SEE) Shares Sold by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL lessened its position in shares of Sealed Air Co. (NYSE:SEE) by 36.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,805 shares of the industrial products company’s stock after selling 5,032 shares during the period. Chesapeake Capital Corp IL’s holdings in Sealed Air were worth $323,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SEE. Family Firm Inc. acquired a new position in shares of Sealed Air in the 2nd quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air in the 2nd quarter valued at $34,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sealed Air in the 1st quarter valued at $52,000. Covestor Ltd boosted its holdings in shares of Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after buying an additional 2,445 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SEE. Wells Fargo & Company upped their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Morgan Stanley began coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Raymond James upgraded 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. Finally, Royal Bank of Canada decreased their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Performance

Shares of SEE opened at $35.86 on Monday. The company has a 50-day simple moving average of $35.48 and a 200-day simple moving average of $35.87. 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 company has a market capitalization of $5.22 billion, a PE ratio of 13.18, a P/E/G ratio of 4.96 and a beta of 1.34. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. Equities research analysts predict that Sealed Air Co. will post 3.07 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. Sealed Air’s payout ratio is 29.41%.

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.