Rhumbline Advisers Sells 13,213 Shares of Sealed Air Corporation $SEE

Key Points

• Rhumbline Advisers has reduced its stake in Sealed Air Corporation by 3.8%, selling 13,213 shares, but still owns approximately 0.23% of the company valued at about $9.6 million.
• Analysts have recently upgraded Sealed Air's rating, with JPMorgan raising it to "overweight" and increasing the price target from $33.00 to $36.00, while UBS raised it to $40.00, reflecting a positive outlook on the stock.
• Sealed Air announced a quarterly dividend of $0.20 per share, with a yearly yield of 2.4%, and reported better-than-expected earnings of $0.89 EPS for the last quarter, surpassing the consensus estimate of $0.72 EPS.

Rhumbline Advisers trimmed its position in Sealed Air Corporation (NYSE:SEE - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 332,026 shares of the industrial products company's stock after selling 13,213 shares during the period. Rhumbline Advisers owned about 0.23% of Sealed Air worth $9,596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the 1st quarter worth about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sealed Air in the 4th quarter valued at $27,000. North Capital Inc. bought a new position in shares of Sealed Air in the 1st quarter worth $30,000. CX Institutional acquired a new position in Sealed Air in the first quarter valued at about $52,000. Finally, Whittier Trust Co. boosted its holdings in Sealed Air by 77.7% during the first quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock worth $53,000 after buying an additional 797 shares during the last quarter. Institutional investors own 94.40% of the company's stock.

Analyst Ratings Changes

SEE has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Sealed Air from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $33.00 to $36.00 in a report on Tuesday. UBS Group lifted their target price on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Mizuho boosted their target price on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Citigroup raised their price target on Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.55.

Sealed Air Stock Down 1.6%

NYSE:SEE opened at $32.82 on Thursday. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.71 and a current ratio of 1.19. The stock has a 50-day simple moving average of $31.30 and a 200 day simple moving average of $30.44. The company has a market cap of $4.83 billion, a PE ratio of 16.57, a PEG ratio of 2.60 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.17. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.83 EPS. The company's revenue was down .7% compared to the same quarter last year. Sealed Air has set its FY 2025 guidance at 2.900-3.300 EPS. On average, sell-side analysts expect that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's payout ratio is 40.40%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.