Sealed Air Co. (NYSE:SEE) Shares Sold by Harvey Partners LLC

Harvey Partners LLC trimmed its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 41.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 321,500 shares of the industrial products company's stock after selling 225,000 shares during the quarter. Harvey Partners LLC owned approximately 0.22% of Sealed Air worth $11,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Everence Capital Management Inc. raised its holdings in shares of Sealed Air by 2.8% in the third quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock worth $506,000 after buying an additional 380 shares during the period. United Services Automobile Association increased its holdings in Sealed Air by 3.5% during the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock worth $401,000 after purchasing an additional 393 shares during the period. Raymond James Trust N.A. increased its holdings in Sealed Air by 3.4% during the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company's stock worth $509,000 after purchasing an additional 466 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Sealed Air by 1.3% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company's stock worth $1,275,000 after purchasing an additional 467 shares during the period. Finally, Sendero Wealth Management LLC increased its holdings in Sealed Air by 7.2% during the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company's stock worth $298,000 after purchasing an additional 550 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

SEE stock traded up $0.04 during midday trading on Tuesday, reaching $36.65. The stock had a trading volume of 1,120,619 shares, compared to its average volume of 1,505,298. The stock has a market cap of $5.34 billion, a PE ratio of 13.47, a P/E/G ratio of 5.06 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The firm has a fifty day simple moving average of $35.86 and a two-hundred day simple moving average of $35.77. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company's revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, equities research analysts anticipate that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. Sealed Air's dividend payout ratio is presently 29.41%.

Wall Street Analysts Forecast Growth

SEE has been the topic of several research reports. Wells Fargo & Company raised their price objective on Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group cut Sealed Air from a "buy" rating to a "hold" rating and dropped their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Morgan Stanley assumed coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price objective for the company. Finally, StockNews.com cut Sealed Air from a "buy" rating to a "hold" rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company 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.