Thrivent Financial for Lutherans Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Thrivent Financial for Lutherans lessened its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 25.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,663 shares of the industrial products company's stock after selling 39,053 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Sealed Air worth $4,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SEE. Family Firm Inc. bought a new stake in Sealed Air in the 2nd quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Sealed Air in the second quarter worth about $34,000. Allspring Global Investments Holdings LLC increased its holdings in Sealed Air by 100.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company's stock valued at $99,000 after purchasing an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sealed Air in the 2nd quarter worth approximately $105,000. Institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

Shares of Sealed Air stock traded up $0.71 during trading on Monday, hitting $36.61. 942,158 shares of the company's stock traded hands, compared to its average volume of 1,518,721. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The business has a 50-day simple moving average of $35.69 and a 200-day simple moving average of $35.85. The stock has a market capitalization of $5.33 billion, a P/E ratio of 13.46, a PEG ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Sealed Air's dividend payout ratio (DPR) is currently 29.41%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SEE shares. Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target for the company. Jefferies Financial Group cut shares of Sealed Air from a "buy" rating to a "hold" rating and reduced their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Wells Fargo & Company raised their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Truist Financial reduced 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. Finally, Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price objective for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sealed Air has an average rating of "Moderate Buy" and a consensus target price of $41.00.

Sealed Air Company 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.