Kiltearn Partners LLP Cuts Stock Position in Sealed Air Co. (NYSE:SEE)

Kiltearn Partners LLP lessened its position in Sealed Air Co. (NYSE:SEE - Free Report) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 507,800 shares of the industrial products company's stock after selling 23,200 shares during the period. Sealed Air accounts for 2.5% of Kiltearn Partners LLP's investment portfolio, making the stock its 17th biggest position. Kiltearn Partners LLP owned approximately 0.35% of Sealed Air worth $18,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. lifted its position in shares of Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock worth $506,000 after purchasing an additional 380 shares during the period. United Services Automobile Association lifted its stake in shares of Sealed Air by 3.5% in the 2nd quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock valued at $401,000 after purchasing an additional 393 shares during the period. Raymond James Trust N.A. grew its stake in Sealed Air by 3.4% in the third 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 raised its holdings in Sealed Air by 1.3% in the second 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 in the last quarter. Finally, Sendero Wealth Management LLC lifted its position in Sealed Air by 7.2% during the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company's stock valued at $298,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SEE shares. Wells Fargo & Company lifted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Jefferies Financial Group downgraded Sealed Air from a "buy" rating to a "hold" rating and cut their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Royal Bank of Canada lowered their price target on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a research report on Thursday, October 17th. Finally, Morgan Stanley initiated coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $39.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Sealed Air Stock Performance

NYSE:SEE traded up $0.45 on Wednesday, hitting $36.40. The stock had a trading volume of 327,218 shares, compared to its average volume of 1,511,047. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The business's 50-day simple moving average is $35.77 and its two-hundred day simple moving average is $35.83.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS 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 analysts' expectations of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm's revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. As a group, research analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 dividend yield of 2.20%. Sealed Air's payout ratio is currently 29.41%.

Sealed Air 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.