Envestnet Asset Management Inc. Trims Stake in Sealed Air Corporation (NYSE:SEE)

Envestnet Asset Management Inc. trimmed its stake in Sealed Air Corporation (NYSE:SEE) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 491,983 shares of the industrial products company’s stock after selling 5,048 shares during the period. Envestnet Asset Management Inc.’s holdings in Sealed Air were worth $14,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SEE. Brighton Jones LLC purchased a new stake in Sealed Air in the 4th quarter worth $737,000. Proficio Capital Partners LLC purchased a new stake in Sealed Air in the 4th quarter worth $717,000. HighTower Advisors LLC increased its stake in Sealed Air by 189.4% in the 4th quarter. HighTower Advisors LLC now owns 12,825 shares of the industrial products company’s stock worth $434,000 after buying an additional 8,393 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Sealed Air by 3.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 18,775 shares of the industrial products company’s stock worth $635,000 after buying an additional 690 shares in the last quarter. Finally, Swiss National Bank increased its stake in Sealed Air by 0.8% in the 4th quarter. Swiss National Bank now owns 286,500 shares of the industrial products company’s stock worth $9,692,000 after buying an additional 2,300 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Down 0.6%

SEE opened at $31.20 on Friday. The firm has a 50-day simple moving average of $31.84 and a two-hundred day simple moving average of $31.26. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $38.85. The company has a market capitalization of $4.59 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.87 and a beta of 1.35. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The business’s revenue was down 4.4% on a year-over-year basis. Analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Friday, September 12th. Sealed Air’s payout ratio is 39.60%.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of analyst reports. UBS Group increased their price target on Sealed Air from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Raymond James Financial reiterated a “strong-buy” rating on shares of Sealed Air in a research note on Tuesday. Citigroup increased their price target on Sealed Air from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Wall Street Zen upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial increased their price target on Sealed Air from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.27.

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.