Vulcan Value Partners LLC Reduces Holdings in Sealed Air Corporation (NYSE:SEE)

Key Points

• Vulcan Value Partners LLC reduced its stake in Sealed Air Corporation by 7.1%, selling 51,059 shares and now owns 668,497 shares valued at approximately $19.32 million.
• Several large investors increased their positions in Sealed Air, with T. Rowe Price boosting its holdings by 9.6%, owning over 12 million shares worth around $416.66 million.
• Sealed Air recently announced a quarterly dividend of $0.20 per share, representing an annualized dividend yield of 2.7%, with a payout ratio of 39.60%.

Vulcan Value Partners LLC decreased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,497 shares of the industrial products company's stock after selling 51,059 shares during the period. Vulcan Value Partners LLC owned 0.45% of Sealed Air worth $19,320,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC purchased a new position in Sealed Air during the 4th quarter worth $737,000. American Century Companies Inc. increased its holdings in shares of Sealed Air by 13.8% in 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 purchasing an additional 18,221 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sealed Air by 90.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after purchasing an additional 715,668 shares in the last quarter. Norges Bank purchased a new position in shares of Sealed Air in the 4th quarter valued at about $50,562,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Sealed Air by 3.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 30,708 shares of the industrial products company's stock valued at $1,039,000 after purchasing an additional 933 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Trading Up 3.1%

Shares of SEE traded up $0.90 during mid-day trading on Tuesday, hitting $29.88. The company had a trading volume of 1,211,025 shares, compared to its average volume of 1,568,482. The business's 50-day simple moving average is $31.44 and its 200-day simple moving average is $30.95. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The stock has a market cap of $4.39 billion, a PE ratio of 14.83, a P/E/G ratio of 2.60 and a beta of 1.33.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, August 5th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.17. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the company earned $0.83 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.80 annualized dividend and a yield of 2.7%. Sealed Air's dividend payout ratio (DPR) is presently 39.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price target on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. 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 report on Friday, July 11th. 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. Finally, Truist Financial raised their price target on shares of Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.27.

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.