Shell Asset Management Co. Sells 34,100 Shares of Sealed Air Corporation $SEE

Shell Asset Management Co. trimmed its position in shares of Sealed Air Corporation (NYSE:SEE) by 95.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,502 shares of the industrial products company’s stock after selling 34,100 shares during the quarter. Shell Asset Management Co.’s holdings in Sealed Air were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SEE. Impax Asset Management Group plc raised its position in Sealed Air by 18.6% in the 2nd quarter. Impax Asset Management Group plc now owns 680,824 shares of the industrial products company’s stock valued at $21,126,000 after purchasing an additional 106,627 shares during the last quarter. Alberta Investment Management Corp raised its holdings in shares of Sealed Air by 43.3% in the second quarter. Alberta Investment Management Corp now owns 2,287,300 shares of the industrial products company’s stock valued at $70,975,000 after buying an additional 691,200 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Sealed Air during the 3rd quarter worth about $3,005,000. Atlas FRM LLC grew its holdings in Sealed Air by 71.9% during the 2nd quarter. Atlas FRM LLC now owns 980,000 shares of the industrial products company’s stock worth $30,409,000 after acquiring an additional 410,000 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Sealed Air by 35.7% during the 3rd quarter. Sound Income Strategies LLC now owns 123,445 shares of the industrial products company’s stock worth $4,316,000 after acquiring an additional 32,466 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of research reports. Raymond James Financial lowered shares of Sealed Air from an “outperform” rating to a “market perform” rating in a research report on Monday, December 22nd. Truist Financial upped their price objective on Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Royal Bank Of Canada increased their price objective on Sealed Air from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their target price on Sealed Air from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company upped their price target on Sealed Air from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.42.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $41.95 on Monday. The firm has a fifty day moving average of $41.70 and a two-hundred day moving average of $37.84. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.75 and a current ratio of 1.29. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 13.62 and a beta of 1.35. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $44.27.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 1.9%. Sealed Air’s dividend payout ratio is presently 25.97%.

About Sealed Air

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.