Alliancebernstein L.P. Decreases Holdings in Sealed Air Corporation $SEE

Key Points

• Alliancebernstein L.P. has reduced its stake in Sealed Air Corporation by 3.5%, holding approximately 721,433 shares worth $20.8 million after the sale.
• Sealed Air reported $0.89 earnings per share for the last quarter, exceeding analysts' expectations of $0.72, despite a year-over-year revenue decline of 0.7%.
• The company recently announced a quarterly dividend of $0.20, leading to an annualized dividend yield of 2.4%, with a payout ratio of 40.40%.

Alliancebernstein L.P. reduced its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 721,433 shares of the industrial products company's stock after selling 26,035 shares during the period. Alliancebernstein L.P. owned 0.49% of Sealed Air worth $20,849,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SEE. GAMMA Investing LLC lifted 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 worth $108,000 after buying an additional 2,413 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Sealed Air by 7.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock valued at $1,628,000 after acquiring an additional 3,664 shares during the last quarter. Manning & Napier Advisors LLC lifted its holdings in Sealed Air by 200.0% during the first quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock worth $1,734,000 after acquiring an additional 40,000 shares during the period. Russell Investments Group Ltd. boosted its position in Sealed Air by 9.4% in the first quarter. Russell Investments Group Ltd. now owns 105,651 shares of the industrial products company's stock worth $3,053,000 after purchasing an additional 9,052 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Sealed Air by 43.1% in 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 owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SEE. Wells Fargo & Company lifted their target price on Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised Sealed Air from a "neutral" rating to an "overweight" rating and upped their price target for the company from $33.00 to $36.00 in a research report on Tuesday, September 9th. Truist Financial raised their price objective on shares of Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Mizuho boosted their price objective on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.55.

Sealed Air Price Performance

NYSE SEE traded up $0.23 during trading on Tuesday, reaching $33.88. The company's stock had a trading volume of 1,046,481 shares, compared to its average volume of 1,289,279. The firm has a fifty day moving average of $31.43 and a 200 day moving average of $30.44. Sealed Air Corporation has a one year low of $22.78 and a one year high of $38.85. The stock has a market capitalization of $4.98 billion, a PE ratio of 17.11, a P/E/G ratio of 2.62 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.

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 the consensus estimate of $0.72 by $0.17. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Sealed Air had a return on equity of 60.61% and a net margin of 5.46%.Sealed Air's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Sealed Air has set its FY 2025 guidance at 2.900-3.300 EPS. Analysts expect that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

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

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.