Crossmark Global Holdings Inc. Sells 33,980 Shares of Sealed Air Co. (NYSE:SEE)

Crossmark Global Holdings Inc. lessened its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 64.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,812 shares of the industrial products company's stock after selling 33,980 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Sealed Air were worth $683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Sealed Air in the 3rd quarter valued at about $53,681,000. Millennium Management LLC grew its holdings in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company's stock worth $143,136,000 after acquiring an additional 1,136,985 shares during the last quarter. Appian Way Asset Management LP acquired a new stake in shares of Sealed Air during the first quarter worth $29,877,000. Vanguard Group Inc. lifted its holdings in shares of Sealed Air by 3.7% during the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company's stock valued at $621,380,000 after purchasing an additional 600,146 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company's stock worth $66,475,000 after buying an additional 479,675 shares during the period. Institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

Sealed Air stock traded up $0.23 on Friday, reaching $35.86. 868,826 shares of the stock were exchanged, compared to its average volume of 1,520,597. The stock has a market cap of $5.22 billion, a PE ratio of 13.18, a PEG ratio of 4.93 and a beta of 1.34. The firm has a fifty day moving average price of $35.48 and a two-hundred day moving average price of $35.85. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) 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 business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.77 earnings per share. Sealed Air's quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts anticipate that Sealed Air Co. will post 3.07 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. 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 payout ratio is presently 29.41%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Sealed Air from a "buy" rating to a "hold" rating and reduced their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. Morgan Stanley initiated coverage on Sealed Air in a report on Wednesday, September 4th. They set an "equal weight" rating and a $39.00 price target on the stock. Truist Financial reduced their price objective on Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Finally, 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 note on Friday, August 9th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average 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.