Sealed Air Co. (NYSE:SEE) Holdings Lowered by Marshall Wace LLP

Marshall Wace LLP trimmed its stake in shares of Sealed Air Co. (NYSE:SEE) by 93.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,295 shares of the industrial products company’s stock after selling 112,201 shares during the period. Marshall Wace LLP’s holdings in Sealed Air were worth $254,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in shares of Sealed Air during the 4th quarter worth about $118,000. Goldman Sachs Group Inc. lifted its position in shares of Sealed Air by 83.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,731 shares of the industrial products company’s stock worth $37,861,000 after buying an additional 471,289 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Sealed Air by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 65,772 shares of the industrial products company’s stock worth $2,402,000 after buying an additional 14,467 shares during the period. Reinhart Partners LLC. lifted its position in shares of Sealed Air by 0.9% during the 1st quarter. Reinhart Partners LLC. now owns 306,245 shares of the industrial products company’s stock worth $11,392,000 after buying an additional 2,676 shares during the period. Finally, MADDEN SECURITIES Corp bought a new position in Sealed Air in the 1st quarter valued at $246,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on SEE shares. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $35.00 in a research report on Friday, August 9th. UBS Group lowered their target price on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada cut Sealed Air from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $43.00 to $40.00 in a research note on Friday, July 19th. Finally, Citigroup lowered their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and a consensus target price of $41.30.

Sealed Air Trading Up 1.9 %

NYSE SEE opened at $35.12 on Friday. The stock has a 50-day simple moving average of $34.50 and a 200 day simple moving average of $35.34. The company has a market capitalization of $5.12 billion, a PE ratio of 14.16, a P/E/G ratio of 8.77 and a beta of 1.34. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $41.14.

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

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.28%. Sealed Air’s dividend payout ratio (DPR) is currently 32.26%.

Sealed Air Company 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.