Millennium Management LLC Reduces Position in 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 cut its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,815,911 shares of the industrial products company's stock after selling 231,090 shares during the period. Millennium Management LLC owned 1.23% of Sealed Air worth $52,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Sealed Air by 182.4% during the 1st quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 2,413 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Sealed Air by 7.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock valued at $1,628,000 after purchasing an additional 3,664 shares during the period. Manning & Napier Advisors LLC raised its position in shares of Sealed Air by 200.0% during the 1st quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock valued at $1,734,000 after purchasing an additional 40,000 shares during the period. Russell Investments Group Ltd. raised its position in shares of Sealed Air by 9.4% during the 1st quarter. Russell Investments Group Ltd. now owns 105,651 shares of the industrial products company's stock valued at $3,053,000 after purchasing an additional 9,052 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Sealed Air by 43.1% during the 1st quarter. Public Sector Pension Investment Board now owns 519,339 shares of the industrial products company's stock valued at $15,009,000 after purchasing an additional 156,309 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.05 on Friday, reaching $33.96. The company's stock had a trading volume of 1,881,110 shares, compared to its average volume of 1,351,262. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a market cap of $5.00 billion, a P/E ratio of 17.15, a PEG ratio of 2.64 and a beta of 1.33. The company has a 50-day simple moving average of $31.35 and a 200 day simple moving average of $30.42. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.71 and a current ratio of 1.19.

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

Sealed Air Announces Dividend

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

Wall Street Analysts Forecast Growth

SEE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of 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 research note on Friday, July 18th. Truist Financial raised their target price on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 11th. UBS Group raised their target price on shares of Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Citigroup raised their target price on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.55.

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.