Bank of New York Mellon Corp Sells 19,394 Shares of Sealed Air Corporation (NYSE:SEE)

Bank of New York Mellon Corp trimmed its stake in shares of Sealed Air Corporation (NYSE:SEE - Free Report) 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 period. Bank of New York Mellon Corp owned about 0.97% of Sealed Air worth $41,029,000 as of its most recent filing with the Securities & Exchange Commission.

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

Sealed Air Price Performance

NYSE:SEE traded down $0.28 on Friday, hitting $31.11. The company had a trading volume of 713,512 shares, compared to its average volume of 1,542,756. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 2.83 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 5.26. The firm has a 50 day moving average of $31.82 and a two-hundred day moving average of $31.28. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.14. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company's revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts anticipate that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.20 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. Sealed Air's dividend payout ratio is presently 39.60%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Truist Financial boosted their target price on Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Citigroup raised their price objective on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, July 11th. UBS Group lifted their target price 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 report on Friday, June 6th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.27.

Sealed Air Company 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.