Meyer Handelman Co. Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Meyer Handelman Co. lessened its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,050 shares of the industrial products company's stock after selling 10,238 shares during the quarter. Meyer Handelman Co.'s holdings in Sealed Air were worth $1,592,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Empowered Funds LLC acquired a new position in shares of Sealed Air during the 3rd quarter worth about $1,497,000. Maple Rock Capital Partners Inc. boosted its holdings in Sealed Air by 56.6% in the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company's stock valued at $55,085,000 after purchasing an additional 548,493 shares in the last quarter. Deprince Race & Zollo Inc. increased its stake in Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company's stock valued at $64,571,000 after purchasing an additional 24,940 shares during the last quarter. Commerce Bank raised its holdings in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company's stock worth $1,329,000 after purchasing an additional 14,766 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sealed Air by 501.0% during the third quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company's stock worth $28,853,000 after purchasing an additional 662,606 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James raised shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 target price on the stock in a research report on Thursday, October 17th. Truist Financial raised their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Morgan Stanley reduced their target price on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday. UBS Group dropped their price target on Sealed Air from $39.00 to $37.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Finally, Citigroup decreased their price objective on Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a report on Monday, January 6th. Eight investment 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Sealed Air Stock Performance

SEE traded up $0.54 during trading on Wednesday, reaching $34.51. The company's stock had a trading volume of 498,162 shares, compared to its average volume of 985,643. 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 company's fifty day moving average price is $35.18 and its 200-day moving average price is $35.18. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34.

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, beating analysts' consensus estimates of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. On average, equities analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, December 6th. Sealed Air's dividend payout ratio (DPR) is 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.