Rhumbline Advisers Cuts Stock Holdings in 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 reduced its stake in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,026 shares of the industrial products company's stock after selling 13,213 shares during the quarter. Rhumbline Advisers owned about 0.23% of Sealed Air worth $9,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Sealed Air during the 1st quarter worth $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sealed Air during the 4th quarter worth $27,000. North Capital Inc. purchased a new position in Sealed Air during the 1st quarter worth $30,000. CX Institutional purchased a new position in Sealed Air during the 1st quarter worth $52,000. Finally, Whittier Trust Co. grew its position in Sealed Air by 77.7% during the 1st quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock worth $53,000 after purchasing an additional 797 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

SEE traded down $0.05 during midday trading on Tuesday, reaching $33.60. 303,342 shares of the company's stock were exchanged, compared to its average volume of 1,565,334. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.19 and a quick ratio of 0.71. The stock has a market capitalization of $4.94 billion, a PE ratio of 16.97, a P/E/G ratio of 2.64 and a beta of 1.33. The business's 50-day moving average price is $31.39 and its 200 day moving average price is $30.41. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85.

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

Sealed Air Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have issued reports on SEE shares. Mizuho raised their price objective on shares of 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 report on Tuesday, July 15th. Citigroup raised their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company raised their price objective on shares of Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.55.

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.