Sealed Air Co. (NYSE:SEE) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. decreased its position in Sealed Air Co. (NYSE:SEE) by 9.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,770 shares of the industrial products company’s stock after selling 1,325 shares during the quarter. First City Capital Management Inc.’s holdings in Sealed Air were worth $444,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of Sealed Air in the 2nd quarter worth approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air during the 1st quarter valued at $31,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Sealed Air during the 1st quarter worth $52,000. Covestor Ltd grew its holdings in shares of Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Sealed Air by 36.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 598 shares during the period. Institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SEE shares. UBS Group reduced their target price on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research report on Monday, June 17th. Morgan Stanley assumed coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. Finally, Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Eight investment 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, the stock has an average rating of “Hold” and a consensus price target of $41.30.

Sealed Air Price Performance

Shares of SEE stock opened at $35.09 on Friday. The company has a market capitalization of $5.11 billion, a P/E ratio of 14.09, a P/E/G ratio of 8.59 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. The stock has a 50 day moving average of $34.86 and a two-hundred day moving average of $35.40.

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

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 2.28%. Sealed Air’s dividend payout ratio is 32.13%.

Sealed Air 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.