NFJ Investment Group LLC Sells 116,657 Shares of Sealed Air Co. (NYSE:SEE)

NFJ Investment Group LLC decreased its position in Sealed Air Co. (NYSE:SEE - Free Report) by 75.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,977 shares of the industrial products company's stock after selling 116,657 shares during the quarter. NFJ Investment Group LLC's holdings in Sealed Air were worth $1,415,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SEE. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sealed Air by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 80,843 shares of the industrial products company's stock valued at $3,009,000 after purchasing an additional 4,471 shares during the last quarter. Atria Investments Inc purchased a new stake in Sealed Air during the first quarter valued at about $1,054,000. Cardinal Capital Management boosted its holdings in shares of Sealed Air by 4.4% in the second quarter. Cardinal Capital Management now owns 34,778 shares of the industrial products company's stock worth $1,210,000 after buying an additional 1,467 shares during the period. Kwmg LLC increased its position in shares of Sealed Air by 14.3% in the second quarter. Kwmg LLC now owns 124,741 shares of the industrial products company's stock worth $4,340,000 after acquiring an additional 15,559 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Sealed Air by 336.5% during the second quarter. SG Americas Securities LLC now owns 108,664 shares of the industrial products company's stock valued at $3,780,000 after acquiring an additional 83,770 shares during the period. Institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

SEE stock traded down $0.87 during midday trading on Thursday, hitting $36.43. 1,765,226 shares of the company traded hands, compared to its average volume of 1,505,176. The business has a 50 day simple moving average of $35.93 and a 200-day simple moving average of $35.77. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 5.07 and a beta of 1.34.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.34 billion. During the same period last year, the business posted $0.77 EPS. Sealed Air's revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.20%. Sealed Air's payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

SEE has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price objective for the company. Wells Fargo & Company lifted their price target on Sealed Air from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price target on Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada decreased their price objective 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, Truist Financial dropped their target price on Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sealed Air currently has an average rating of "Moderate Buy" and an average price target of $41.00.

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.