Sealed Air Co. (NYSE:SEE) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in Sealed Air Co. (NYSE:SEE) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,573 shares of the industrial products company’s stock after selling 1,856 shares during the period. Truist Financial Corp’s holdings in Sealed Air were worth $577,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Sealed Air by 9.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 181,455 shares of the industrial products company’s stock worth $6,750,000 after acquiring an additional 15,710 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air during the 1st quarter worth approximately $582,000. CANADA LIFE ASSURANCE Co grew its position in shares of Sealed Air by 10.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 156,578 shares of the industrial products company’s stock worth $5,828,000 after acquiring an additional 15,174 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Sealed Air by 90.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company’s stock worth $1,804,000 after purchasing an additional 23,029 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Sealed Air in the second quarter valued at approximately $2,098,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SEE. Citigroup cut their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday. Stifel Nicolaus assumed coverage on Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective for the company. Finally, Morgan Stanley started coverage on Sealed Air in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.00.

Sealed Air Price Performance

NYSE SEE opened at $34.99 on Wednesday. The company has a market cap of $5.10 billion, a P/E ratio of 14.11, a P/E/G ratio of 8.72 and a beta of 1.34. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $41.14. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The company has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $35.30.

Sealed Air (NYSE:SEE) last released its earnings results 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 firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.29%. Sealed Air’s payout ratio is 32.26%.

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.