Sealed Air Corporation (NYSE:SEE) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Sealed Air Corporation (NYSE:SEE) by 3.9% during the first quarter, HoldingsChannel reports. The fund owned 33,903 shares of the industrial products company’s stock after selling 1,391 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sealed Air were worth $980,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SEE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Sealed Air during the 4th quarter valued at $27,000. North Capital Inc. bought a new position in Sealed Air during the 1st quarter valued at $30,000. CX Institutional bought a new position in Sealed Air during the 1st quarter valued at $52,000. Whittier Trust Co. boosted its stake in Sealed Air by 77.7% during the 1st quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 797 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Sealed Air by 1,263.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,464 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 3,210 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of research reports. Citigroup increased their target price on shares of Sealed Air from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Raymond James Financial reissued a “strong-buy” rating on shares of Sealed Air in a report on Tuesday, July 15th. Wall Street Zen raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Mizuho increased their target price on shares of Sealed Air from $34.00 to $37.00 and gave the stock an “outperformer” rating in a report on Tuesday, July 15th. Finally, Truist Financial increased their target price on shares of Sealed Air from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.27.

Sealed Air Stock Up 1.8%

SEE stock opened at $28.98 on Tuesday. 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 Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85. The firm’s 50-day simple moving average is $31.44 and its 200 day simple moving average is $30.95. The stock has a market cap of $4.26 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.

Sealed Air (NYSE:SEE) last released its quarterly earnings data 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 net margin of 5.55% and a return on equity of 65.49%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 annualized dividend and a yield of 2.8%. Sealed Air’s dividend payout ratio (DPR) is presently 39.60%.

Sealed Air 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.