Envestnet Asset Management Inc. Sells 5,048 Shares of Sealed Air Corporation (NYSE:SEE)

Envestnet Asset Management Inc. trimmed its position in shares of Sealed Air Corporation (NYSE:SEE) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 491,983 shares of the industrial products company’s stock after selling 5,048 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.33% of Sealed Air worth $14,218,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Sealed Air during the 4th quarter valued at approximately $27,000. North Capital Inc. bought a new stake in Sealed Air during the 1st quarter valued at approximately $30,000. Brown Brothers Harriman & Co. boosted its position in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 712 shares in the last quarter. CX Institutional bought a new stake in Sealed Air during the 1st quarter valued at approximately $52,000. Finally, Exchange Traded Concepts LLC boosted its position in Sealed Air by 1,263.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,464 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 3,210 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Price Performance

Shares of NYSE SEE opened at $31.20 on Friday. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $38.85. The firm has a market cap of $4.59 billion, a P/E ratio of 15.45, a PEG ratio of 2.87 and a beta of 1.35. The company has a 50 day moving average of $31.84 and a 200 day moving average of $31.26. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26.

Sealed Air (NYSE:SEE) last announced 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. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts expect that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Sealed Air’s dividend payout ratio is presently 39.60%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial lifted their price objective on Sealed Air from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Sealed Air in a research report on Tuesday. UBS Group boosted their price target on Sealed Air from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Wall Street Zen raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Mizuho boosted their price target on Sealed Air from $34.00 to $37.00 and gave the stock an “outperformer” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $38.27.

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.