Bank of New York Mellon Corp Cuts Holdings in Sealed Air Corporation (NYSE:SEE)

Bank of New York Mellon Corp trimmed its holdings in shares of Sealed Air Corporation (NYSE:SEE) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,419,674 shares of the industrial products company’s stock after selling 19,394 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Sealed Air worth $41,029,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new position in Sealed Air in the fourth quarter worth $737,000. Jones Financial Companies Lllp lifted its stake in shares of Sealed Air by 98.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company’s stock worth $53,000 after buying an additional 778 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Sealed Air by 30.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,897 shares of the industrial products company’s stock worth $64,000 after buying an additional 444 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Sealed Air during the fourth quarter worth $717,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Sealed Air during the fourth quarter worth $16,841,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group boosted their target price on shares of Sealed Air from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Raymond James Financial decreased their target price on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Mizuho decreased their target price on shares of Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.55.

Sealed Air Trading Down 0.8%

Shares of Sealed Air stock opened at $31.76 on Tuesday. The firm has a 50-day simple moving average of $31.66 and a two-hundred day simple moving average of $31.32. The company has a market cap of $4.67 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.92 and a beta of 1.35. Sealed Air Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26.

Sealed Air (NYSE:SEE) last issued 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. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. As a group, equities analysts predict that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Sealed Air’s dividend payout ratio is currently 39.60%.

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.