Raymond James & Associates Sells 32,706 Shares of Sealed Air Co. (NYSE:SEE)

Raymond James & Associates reduced its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,105 shares of the industrial products company's stock after selling 32,706 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Sealed Air worth $8,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Compass Wealth Management LLC purchased a new stake in shares of Sealed Air during the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Sealed Air in the fourth quarter worth about $29,000. ST Germain D J Co. Inc. acquired a new stake in Sealed Air in the second quarter worth about $33,000. Column Capital Advisors LLC lifted its holdings in Sealed Air by 57.9% in the 3rd quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Sealed Air by 80.3% in the 3rd quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 476 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Sealed Air stock traded down $0.58 during trading hours on Friday, reaching $32.66. 1,445,645 shares of the company were exchanged, compared to its average volume of 1,408,074. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $48.44. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 8.21. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 2.72 and a beta of 1.28. The stock has a 50-day moving average of $35.67 and a 200 day moving average of $34.27.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the business earned $0.99 earnings per share. Sealed Air's revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Sealed Air Co. will post 2.85 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.45%. Sealed Air's dividend payout ratio is 33.90%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SEE. Mizuho cut their price target on shares of Sealed Air from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Wednesday, February 28th. Wolfe Research started coverage on Sealed Air in a report on Friday, March 1st. They set a "peer perform" rating on the stock. Wells Fargo & Company upgraded Sealed Air from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Truist Financial dropped their target price on Sealed Air from $40.00 to $39.00 and set a "hold" rating on the stock in a report on Friday, March 1st. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $43.73.

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.