Raymond James & Associates Has $9.05 Million Stake in Sealed Air Co. (NYSE:SEE)

Raymond James & Associates lessened its position in shares of Sealed Air Co. (NYSE:SEE) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,345 shares of the industrial products company’s stock after selling 4,936 shares during the period. Raymond James & Associates owned about 0.17% of Sealed Air worth $9,051,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in Sealed Air in the 2nd quarter valued at approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air in the first quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Sealed Air in the second quarter worth $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air in the first quarter valued at $52,000. Finally, Covestor Ltd grew its position in Sealed Air by 651.2% in the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,400 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Down 2.4 %

Shares of NYSE:SEE opened at $35.77 on Wednesday. Sealed Air Co. has a 52-week low of $29.92 and a 52-week high of $41.14. The company has a market capitalization of $5.21 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 9.13 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. The company has a fifty day moving average of $35.10 and a 200-day moving average of $35.47.

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

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is currently 32.26%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SEE shares. Wells Fargo & Company lifted their target price on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. UBS Group cut their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, July 17th. Morgan Stanley initiated coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Citigroup decreased their price objective on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.