Sealed Air Co. (NYSE:SEE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,910 shares of the industrial products company’s stock after selling 2,024 shares during the period. Mutual of America Capital Management LLC’s holdings in Sealed Air were worth $795,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Family Firm Inc. acquired a new position in Sealed Air during the second quarter worth $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Sealed Air during the 2nd quarter worth $34,000. Allspring Global Investments Holdings LLC boosted its position in shares of Sealed Air by 100.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sealed Air by 523.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sealed Air during the second quarter worth about $105,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SEE. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. Truist Financial decreased their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley assumed coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Thursday, October 17th. Finally, Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and cut their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Trading Down 1.8 %

NYSE SEE opened at $35.95 on Wednesday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The firm has a 50 day moving average of $35.74 and a two-hundred day moving average of $35.85. The stock has a market capitalization of $5.24 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

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.