Sealed Air Corporation (NYSE:SEE) Stock Position Decreased by Bessemer Group Inc.

Bessemer Group Inc. lowered its holdings in Sealed Air Corporation (NYSE:SEE) by 66.3% in the first quarter, Holdings Channel.com reports. The firm owned 30,568 shares of the industrial products company’s stock after selling 60,230 shares during the period. Bessemer Group Inc.’s holdings in Sealed Air were worth $884,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SEE. Brighton Jones LLC purchased a new stake in shares of Sealed Air in the fourth quarter valued at $737,000. Truist Financial Corp raised its holdings in shares of Sealed Air by 3.3% during the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 377 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Sealed Air by 2.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 35,445 shares of the industrial products company’s stock worth $1,199,000 after acquiring an additional 824 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Sealed Air during the fourth quarter worth $717,000. Finally, Metis Global Partners LLC raised its holdings in shares of Sealed Air by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial cut their price objective on Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group set a $36.00 target price on Sealed Air in a report on Tuesday, March 4th. Truist Financial cut their target price on Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Monday, April 7th. Finally, Mizuho cut their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Sealed Air Trading Down 0.6%

Shares of NYSE:SEE opened at $31.07 on Tuesday. The company has a market cap of $4.57 billion, a P/E ratio of 15.38, a P/E/G ratio of 2.85 and a beta of 1.37. The stock’s 50-day moving average is $30.79 and its 200-day moving average is $31.45. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts predict that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.57%. Sealed Air’s dividend payout ratio (DPR) is currently 39.60%.

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.