Sealed Air Co. (NYSE:SEE) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 65.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,905 shares of the industrial products company's stock after selling 20,209 shares during the period. XTX Topco Ltd's holdings in Sealed Air were worth $396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. purchased a new position in Sealed Air in the 3rd quarter valued at about $139,800,000. Swedbank AB acquired a new position in shares of Sealed Air during the third quarter valued at approximately $53,681,000. Millennium Management LLC lifted its position in shares of Sealed Air by 38.2% in the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company's stock valued at $143,136,000 after acquiring an additional 1,136,985 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of 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 worth $55,085,000 after acquiring an additional 548,493 shares during the last quarter. Finally, Appian Way Asset Management LP increased its position in shares of Sealed Air by 68.1% during the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company's stock worth $46,962,000 after purchasing an additional 546,701 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SEE. Raymond James upgraded Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price objective on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered their price target on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 17th. Truist Financial cut their price objective on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Morgan Stanley started coverage on Sealed Air in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target for the company. Finally, StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Sealed Air Trading Down 0.4 %

NYSE SEE traded down $0.13 during trading hours on Monday, reaching $35.83. The company had a trading volume of 1,782,497 shares, compared to its average volume of 1,499,309. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $5.22 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The stock has a 50-day moving average of $36.01 and a 200 day moving average of $35.69. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14.

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

Sealed Air Dividend Announcement

The company 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Sealed Air's dividend payout ratio is presently 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.