Allspring Global Investments Holdings LLC Sells 1,066 Shares of Sealed Air Co. (NYSE:SEE)

Allspring Global Investments Holdings LLC decreased its holdings in Sealed Air Co. (NYSE:SEE) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,767 shares of the industrial products company’s stock after selling 1,066 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sealed Air were worth $64,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SEE. Isthmus Partners LLC boosted its holdings in shares of Sealed Air by 4.6% during the 1st quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 322 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of Sealed Air by 3.5% during the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in shares of Sealed Air by 1.3% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 467 shares in the last quarter. Sendero Wealth Management LLC grew its position in shares of Sealed Air by 7.2% in the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after buying an additional 550 shares during the last quarter. Finally, MADDEN SECURITIES Corp grew its position in shares of Sealed Air by 9.1% in the 2nd quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock valued at $251,000 after buying an additional 600 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

SEE stock opened at $36.27 on Tuesday. The business has a 50 day moving average of $35.21 and a 200-day moving average of $35.57. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The firm has a market cap of $5.28 billion, a PE ratio of 14.63, a P/E/G ratio of 9.16 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. Sealed Air’s payout ratio is 32.26%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SEE shares. Citigroup dropped their price target on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Royal Bank of Canada dropped their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. Truist Financial lowered their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus assumed coverage on Sealed Air in a research note on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $41.00.

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.