Mercer Global Advisors Inc. ADV Lowers Holdings in Sealed Air Co. (NYSE:SEE)

Mercer Global Advisors Inc. ADV decreased its stake in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,464 shares of the industrial products company’s stock after selling 375 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Sealed Air were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. raised its stake in shares of Sealed Air by 54.2% in the fourth quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 234 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Sealed Air in the fourth quarter valued at about $52,000. Western Pacific Wealth Management LP purchased a new position in shares of Sealed Air in the fourth quarter valued at about $57,000. Zions Bancorporation N.A. lifted its position in shares of Sealed Air by 334.1% in the first quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 755 shares in the last quarter. Finally, Romano Brothers AND Company purchased a new position in shares of Sealed Air in the fourth quarter valued at about $80,000. Hedge funds and other institutional investors own 89.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SEE. StockNews.com began coverage on Sealed Air in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada decreased their target price on Sealed Air from $58.00 to $54.00 in a research report on Thursday, May 4th. Credit Suisse Group decreased their target price on Sealed Air from $64.00 to $59.00 and set a “neutral” rating on the stock in a research report on Monday, February 13th. UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, April 5th. Finally, Citigroup boosted their target price on Sealed Air from $51.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and an average target price of $56.27.

Sealed Air Stock Down 1.7 %

Shares of NYSE SEE opened at $40.22 on Friday. Sealed Air Co. has a 12-month low of $39.92 and a 12-month high of $64.07. The stock’s fifty day simple moving average is $44.52 and its two-hundred day simple moving average is $48.66. The company has a current ratio of 1.19, a quick ratio of 0.64 and a debt-to-equity ratio of 13.39. The stock has a market capitalization of $5.81 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 4.82 and a beta of 1.23.

Sealed Air (NYSE:SEE – Get Rating) last issued its earnings results on Tuesday, May 2nd. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a return on equity of 196.19% and a net margin of 7.25%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. As a group, analysts expect that Sealed Air Co. will post 3.57 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, June 8th. Sealed Air’s dividend payout ratio is currently 28.88%.

Sealed Air Company Profile

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Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.