Bank of New York Mellon Corp Decreases Stock Holdings in Sealed Air Co. (NYSE:SEE)

Bank of New York Mellon Corp lessened its stake in Sealed Air Co. (NYSE:SEE – Get Rating) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,391,847 shares of the industrial products company’s stock after selling 43,711 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of Sealed Air worth $61,950,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SEE. Ronald Blue Trust Inc. acquired a new position in shares of Sealed Air during the 2nd quarter worth about $42,000. Wipfli Financial Advisors LLC purchased a new stake in Sealed Air during the 3rd quarter worth approximately $45,000. CWM LLC raised its holdings in shares of Sealed Air by 17.5% during the third quarter. CWM LLC now owns 1,464 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 218 shares during the last quarter. 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, Itau Unibanco Holding S.A. acquired a new stake in shares of Sealed Air in the third quarter worth approximately $100,000. 89.63% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Stock Performance

NYSE SEE opened at $47.16 on Friday. The company has a market cap of $6.79 billion, a P/E ratio of 14.12, a P/E/G ratio of 4.14 and a beta of 1.24. Sealed Air Co. has a 1-year low of $41.24 and a 1-year high of $70.72. The company has a debt-to-equity ratio of 9.41, a current ratio of 1.02 and a quick ratio of 0.60. The stock has a 50-day moving average of $51.51 and a two-hundred day moving average of $50.25.

Sealed Air (NYSE:SEE – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The industrial products company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Sealed Air had a net margin of 8.71% and a return on equity of 254.05%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, analysts anticipate that Sealed Air Co. will post 3.65 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. Sealed Air’s dividend payout ratio (DPR) is presently 23.95%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SEE shares. StockNews.com cut shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. Wells Fargo & Company upped their price objective on shares of Sealed Air from $43.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Citigroup raised their target price on shares of Sealed Air from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Mizuho lowered their target price on Sealed Air from $61.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, February 10th. Finally, Credit Suisse Group reduced their price objective 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. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $57.82.

About Sealed Air

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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.