Sealed Air Co. (NYSE:SEE) Stake Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,031 shares of the industrial products company’s stock after selling 2,262 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Sealed Air were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SEE. State Board of Administration of Florida Retirement System boosted its position in Sealed Air by 9.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock worth $6,750,000 after acquiring an additional 15,710 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in Sealed Air by 10.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company’s stock worth $5,828,000 after acquiring an additional 15,174 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Sealed Air by 90.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company’s stock worth $1,804,000 after acquiring an additional 23,029 shares during the period. Deprince Race & Zollo Inc. boosted its position in Sealed Air by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after acquiring an additional 24,940 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Sealed Air during the 2nd quarter worth $2,098,000. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Performance

Shares of SEE stock opened at $35.86 on Monday. The stock’s fifty day simple moving average is $35.48 and its 200-day simple moving average is $35.87. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 4.96 and a beta of 1.34. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, sell-side analysts predict that Sealed Air Co. will post 3.07 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SEE shares. Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Truist Financial cut their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a report on Thursday, October 17th. Morgan Stanley began coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $41.00.

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.