Barclays PLC Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Barclays PLC lessened its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 64.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 192,736 shares of the industrial products company's stock after selling 345,142 shares during the quarter. Barclays PLC owned 0.13% of Sealed Air worth $6,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SEE. Family Firm Inc. acquired a new position in Sealed Air during the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Sealed Air during the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sealed Air by 100.8% in 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 buying an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $101,000 after buying an additional 2,445 shares during the last quarter. 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 owned by institutional investors and hedge funds.

Sealed Air Price Performance

Shares of NYSE:SEE traded down $0.35 during trading on Thursday, reaching $33.97. The stock had a trading volume of 1,652,744 shares, compared to its average volume of 1,501,839. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The stock has a market cap of $4.95 billion, a PE ratio of 12.49, a PEG ratio of 4.97 and a beta of 1.34. The business has a fifty day moving average price of $36.02 and a 200-day moving average price of $35.66.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.77 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.36%. Sealed Air's payout ratio is 29.41%.

Analyst Ratings Changes

Several equities research analysts have commented on SEE shares. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th. 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 price target on the stock. Royal Bank of Canada cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. Truist Financial lowered their target price on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, October 15th. Finally, Raymond James upgraded Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.