Millennium Management LLC Sells 231,090 Shares of Sealed Air Corporation $SEE

Key Points

• Millennium Management LLC decreased its stake in Sealed Air Corporation by 11.3%, owning approximately $52.48 million worth of shares after selling 231,090.
• Sealed Air recently reported earnings of $0.89 per share, exceeding analyst expectations, and has set a FY 2025 guidance of $2.900-3.300 EPS.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized yield of 2.4%, payable on September 26th.

Millennium Management LLC decreased its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 11.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,815,911 shares of the industrial products company's stock after selling 231,090 shares during the quarter. Millennium Management LLC owned 1.23% of Sealed Air worth $52,480,000 at the end of the most recent reporting period.

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

Sealed Air Price Performance

SEE stock traded up $0.05 during trading on Friday, reaching $33.96. 1,881,110 shares of the company were exchanged, compared to its average volume of 1,461,520. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 2.64 and a beta of 1.33. 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 company has a 50-day moving average of $31.35 and a two-hundred day moving average of $30.46. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.17. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The company's quarterly revenue was down .7% on a year-over-year basis. During the same quarter last 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 predict that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on SEE shares. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their target price on shares of Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Mizuho upped their price target on shares of Sealed Air from $34.00 to $37.00 and gave the stock an "outperformer" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. upgraded shares of Sealed Air from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $33.00 to $36.00 in a research report on Tuesday. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Sealed Air in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Sealed Air currently has a consensus rating of "Moderate Buy" and a consensus 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.