Rhumbline Advisers Sells 13,213 Shares of Sealed Air Co. (NYSE:SEE)

Rhumbline Advisers trimmed its stake in Sealed Air Co. (NYSE:SEE - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SEE. Brighton Jones LLC acquired a new position in shares of Sealed Air during the 4th quarter valued at $737,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sealed Air in the fourth quarter valued at $45,000. Choreo LLC raised its holdings in shares of Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 351 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Sealed Air by 978.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,062 shares of the industrial products company's stock worth $635,000 after purchasing an additional 17,295 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Sealed Air by 7.5% during the 4th quarter. Vontobel Holding Ltd. now owns 23,435 shares of the industrial products company's stock worth $793,000 after purchasing an additional 1,635 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SEE. Mizuho dropped their price target on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group raised shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a report on Monday, April 7th. Raymond James lowered their price objective on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Sealed Air Trading Down 4.3%

Shares of NYSE SEE traded down $1.38 during trading hours on Friday, hitting $30.88. The company's stock had a trading volume of 944,844 shares, compared to its average volume of 1,539,684. Sealed Air Co. has a 12 month low of $22.78 and a 12 month high of $38.85. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 11.35 and a beta of 1.37. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The business has a 50-day simple moving average of $29.58 and a 200-day simple moving average of $31.98.

Sealed Air (NYSE:SEE - Get Free Report) last posted its 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 return on equity of 74.21% and a net margin of 7.34%. The business's revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.59%. Sealed Air's dividend payout ratio (DPR) is 39.60%.

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.