Easterly Investment Partners LLC Trims Stock Position in Sealed Air Co. (NYSE:SEE)

Easterly Investment Partners LLC reduced its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 37.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,627 shares of the industrial products company's stock after selling 86,196 shares during the quarter. Easterly Investment Partners LLC owned about 0.10% of Sealed Air worth $5,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its stake in Sealed Air by 129.1% during the 3rd quarter. Van ECK Associates Corp now owns 138,186 shares of the industrial products company's stock worth $5,019,000 after acquiring an additional 77,881 shares in the last quarter. Atlas Financial Advisors Inc. raised its stake in Sealed Air by 12.0% during the 3rd quarter. Atlas Financial Advisors Inc. now owns 7,527 shares of the industrial products company's stock worth $273,000 after acquiring an additional 807 shares in the last quarter. New York State Teachers Retirement System raised its stake in Sealed Air by 5.5% during the 3rd quarter. New York State Teachers Retirement System now owns 166,502 shares of the industrial products company's stock worth $6,044,000 after acquiring an additional 8,669 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Sealed Air by 51.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 129,129 shares of the industrial products company's stock worth $4,686,000 after acquiring an additional 43,635 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in Sealed Air by 8.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 40,625 shares of the industrial products company's stock worth $1,475,000 after acquiring an additional 3,334 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James upgraded shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. UBS Group dropped their price objective on shares of Sealed Air from $39.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 17th. Royal Bank of Canada dropped their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 9th. Finally, Truist Financial dropped their price objective 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. 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $41.00.

Sealed Air Stock Performance

Shares of Sealed Air stock traded down $0.17 on Friday, reaching $35.40. 1,868,990 shares of the stock were exchanged, compared to its average volume of 1,517,334. Sealed Air Co. has a 1-year low of $30.87 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 business has a fifty day moving average price of $35.34 and a two-hundred day moving average price of $35.65. The firm has a market capitalization of $5.16 billion, a PE ratio of 13.01, a PEG ratio of 9.39 and a beta of 1.34.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm's revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, research analysts anticipate that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's dividend payout ratio is currently 29.41%.

About Sealed Air

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.