Heartland Advisors Inc. Sells 11,300 Shares of Sealed Air Corporation (NYSE:SEE)

Key Points

• Heartland Advisors Inc. has reduced its holdings in Sealed Air Corporation by 3.1%, now owning about 0.24% of the company with a value of $10,045,000.
• Several hedge funds have recently modified their positions in Sealed Air, including HighTower Advisors LLC, which increased its stake by 189.4%.
• Analyst ratings remain positive, with multiple firms increasing their target prices for Sealed Air, resulting in a consensus target price of $38.27 and an average rating of "Moderate Buy".

Heartland Advisors Inc. decreased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,572 shares of the industrial products company's stock after selling 11,300 shares during the period. Heartland Advisors Inc. owned approximately 0.24% of Sealed Air worth $10,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SEE. GAMMA Investing LLC lifted its holdings in shares of Sealed Air by 182.4% during the 1st quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 2,413 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Sealed Air by 90.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after buying an additional 715,668 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Sealed Air by 7.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock valued at $1,628,000 after buying an additional 3,664 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sealed Air during the 4th quarter worth $16,841,000. Finally, Manning & Napier Advisors LLC grew its holdings in shares of Sealed Air by 200.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock worth $1,734,000 after purchasing an additional 40,000 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SEE has been the subject of several research reports. Truist Financial increased their target price on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Mizuho boosted their target price on Sealed Air from $34.00 to $37.00 and gave the stock an "outperformer" rating in a research report on Tuesday, July 15th. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company increased their target price on Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sealed Air presently has a consensus rating of "Moderate Buy" and an average target price of $38.27.

Sealed Air Stock Performance

NYSE:SEE traded down $0.36 during trading hours on Tuesday, reaching $30.40. 1,132,616 shares of the company's stock were exchanged, compared to its average volume of 1,579,474. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The company has a 50-day moving average of $31.70 and a 200 day moving average of $31.12. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.83 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted 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. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Research analysts anticipate that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, September 12th. Sealed Air's payout ratio is 39.60%.

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.