Squarepoint Ops LLC Sells 193,376 Shares of Sealed Air Co. (NYSE:SEE)

Squarepoint Ops LLC lowered its stake in shares of Sealed Air Co. (NYSE:SEE) by 65.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,353 shares of the industrial products company’s stock after selling 193,376 shares during the period. Squarepoint Ops LLC owned 0.07% of Sealed Air worth $3,596,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Isthmus Partners LLC lifted its stake in Sealed Air by 4.6% in the first quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 322 shares during the last quarter. United Services Automobile Association lifted its stake in Sealed Air by 3.5% in the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 393 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 467 shares during the period. MADDEN SECURITIES Corp increased its position in Sealed Air by 9.1% during the second quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock worth $251,000 after buying an additional 600 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Sealed Air by 7.9% in the first quarter. UMB Bank n.a. now owns 8,294 shares of the industrial products company’s stock valued at $309,000 after buying an additional 607 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SEE shares. Truist Financial restated a “buy” rating and issued a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. Stifel Nicolaus began coverage on shares of Sealed Air in a research note on Tuesday, July 9th. They set a “buy” rating and a $47.00 target price for the company. Mizuho upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and upped their price target for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. UBS Group cut their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $43.00 to $40.00 in a research report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.30.

Sealed Air Price Performance

Shares of NYSE SEE opened at $36.53 on Wednesday. The stock has a market capitalization of $5.32 billion, a PE ratio of 14.67, a P/E/G ratio of 9.28 and a beta of 1.34. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The business has a fifty day moving average price of $34.85 and a two-hundred day moving average price of $35.38.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sealed Air’s revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.19%. The ex-dividend date was Friday, September 13th. Sealed Air’s payout ratio is presently 32.13%.

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.