Cerity Partners LLC Lowers Stock Position in Sealed Air Corporation (NYSE:SEE)

Cerity Partners LLC decreased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 58.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,008 shares of the industrial products company's stock after selling 11,491 shares during the quarter. Cerity Partners LLC's holdings in Sealed Air were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of Sealed Air during the 4th quarter worth about $737,000. HighTower Advisors LLC boosted its position in shares of Sealed Air by 189.4% during the 4th quarter. HighTower Advisors LLC now owns 12,825 shares of the industrial products company's stock valued at $434,000 after acquiring an additional 8,393 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Sealed Air by 13.8% during the 4th quarter. American Century Companies Inc. now owns 150,019 shares of the industrial products company's stock valued at $5,075,000 after acquiring an additional 18,221 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Sealed Air during the 4th quarter valued at about $1,025,000. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 2,754,395 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Stock Down 1.2%

Shares of Sealed Air stock traded down $0.36 during trading on Tuesday, reaching $30.40. 1,158,078 shares of the company traded hands, compared to its average volume of 1,160,188. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.26 and a quick ratio of 0.76. 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 price of $31.66 and a 200-day moving average price of $31.11. The firm has a market capitalization of $4.47 billion, a PE ratio of 15.05, a P/E/G ratio of 2.81 and a beta of 1.35.

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, topping the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The business's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. As a group, equities research analysts expect that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Mizuho boosted their price target on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Citigroup boosted their price target on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Truist Financial boosted their price target on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Wells Fargo & Company boosted their price target on shares of Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.27.

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.