Sealed Air Co. (NYSE:SEE) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Sealed Air Co. (NYSE:SEE - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 approximately 0.23% of Sealed Air worth $9,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Sealed Air by 17.7% during the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after buying an additional 2,754,395 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Sealed Air by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after purchasing an additional 1,081,848 shares during the period. Invesco Ltd. raised its position in Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after purchasing an additional 1,549,184 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Sealed Air by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after purchasing an additional 178,592 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock worth $68,182,000 after purchasing an additional 920,000 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Down 0.3%

NYSE SEE traded down $0.11 on Thursday, hitting $32.17. 301,869 shares of the stock were exchanged, compared to its average volume of 1,534,557. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $39.54. The company has a 50-day moving average price of $29.42 and a 200-day moving average price of $32.01. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market cap of $4.73 billion, a PE ratio of 11.83 and a beta of 1.37.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. Sell-side analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, June 13th. Sealed Air's dividend payout ratio (DPR) is presently 39.60%.

Analyst Ratings Changes

A number of research firms have commented on SEE. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Wells Fargo & Company upped their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Raymond James dropped their target price on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research report on Tuesday, March 4th. Finally, UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target for the company in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Sealed Air 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.