State Street Corp Sells 59,142 Shares of Sealed Air Co. (NYSE:SEE)

State Street Corp cut its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 1.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,988,047 shares of the industrial products company's stock after selling 59,142 shares during the quarter. State Street Corp owned 3.42% of Sealed Air worth $181,066,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Quarry LP boosted its position in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company's stock worth $134,000 after acquiring an additional 311 shares in the last quarter. Everence Capital Management Inc. boosted its position in 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 valued at $506,000 after buying an additional 380 shares in the last quarter. United Services Automobile Association boosted its position in Sealed Air by 3.5% in the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock valued at $401,000 after buying an additional 393 shares in the last quarter. Raymond James Trust N.A. boosted its position 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 valued at $509,000 after buying an additional 466 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its position 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 valued at $1,275,000 after buying an additional 467 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Down 1.5 %

Sealed Air stock traded down $0.56 during midday trading on Friday, hitting $35.79. 227,536 shares of the stock were exchanged, compared to its average volume of 1,495,730. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 4.99 and a beta of 1.34. The business's 50-day moving average price is $35.98 and its 200-day moving average price is $35.73. 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 (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 (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.12. The company 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 company's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, research analysts expect that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given 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 2.24%. Sealed Air's dividend payout ratio is 29.41%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SEE shares. Truist Financial cut their price target on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. 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 target price for the company. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Finally, Raymond James raised shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target for the company in a research note on Thursday, October 17th. Seven equities 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. According to data from MarketBeat, the company has a consensus 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.