Handelsbanken Fonder AB Decreases Stock Position in Sealed Air Co. (NYSE:SEE)

Handelsbanken Fonder AB decreased its position in shares of Sealed Air Co. (NYSE:SEE) by 9.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,700 shares of the industrial products company’s stock after selling 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in Sealed Air were worth $1,194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Sealed Air by 27.6% during the 4th quarter. CWM LLC now owns 5,402 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 1,168 shares during the last quarter. Signaturefd LLC raised its holdings in Sealed Air by 43.2% in the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 462 shares in the last quarter. Everence Capital Management Inc. bought a new position in Sealed Air during the 4th quarter valued at $210,000. Louisiana State Employees Retirement System acquired a new position in Sealed Air during the 4th quarter worth $2,965,000. Finally, Cardinal Capital Management grew its holdings in Sealed Air by 65.9% during the 4th quarter. Cardinal Capital Management now owns 27,725 shares of the industrial products company’s stock worth $1,013,000 after acquiring an additional 11,018 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $35.00 to $43.00 in a research report on Thursday, January 11th. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and upped their price objective for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Mizuho decreased their target price on Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Wolfe Research started coverage on Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.18.

Sealed Air Stock Up 1.2 %

Sealed Air stock opened at $31.74 on Monday. Sealed Air Co. has a one year low of $28.50 and a one year high of $48.44. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30. The firm has a market capitalization of $4.62 billion, a P/E ratio of 13.45, a P/E/G ratio of 3.48 and a beta of 1.28. The company has a 50-day simple moving average of $34.64 and a 200-day simple moving average of $34.32.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts expect that Sealed Air Co. will post 2.8 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s payout ratio is currently 33.90%.

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.