UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in Sealed Air Co. (NYSE:SEE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 8.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 328,987 shares of the industrial products company's stock after selling 31,258 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Sealed Air worth $11,942,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SEE. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sealed Air by 8.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,089 shares of the industrial products company's stock worth $1,165,000 after purchasing an additional 2,558 shares during the period. FORA Capital LLC acquired a new position in shares of Sealed Air in the 3rd quarter valued at approximately $376,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Sealed Air during the 3rd quarter worth approximately $1,383,000. Glenmede Trust Co. NA acquired a new stake in shares of Sealed Air during the 3rd quarter worth approximately $321,000. Finally, Bridgewater Associates LP increased its stake in Sealed Air by 38.8% in the third quarter. Bridgewater Associates LP now owns 56,575 shares of the industrial products company's stock valued at $2,054,000 after acquiring an additional 15,827 shares during the last quarter. Institutional investors own 94.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Sealed Air from a "buy" rating to a "hold" rating in a report on Monday, December 2nd. JPMorgan Chase & Co. decreased their target price 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. Morgan Stanley assumed coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 target price for the company. Truist Financial decreased 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. Finally, Raymond James raised shares of 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 note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $41.00.

Sealed Air Trading Up 0.7 %

Shares of NYSE:SEE traded up $0.25 during mid-day trading on Friday, hitting $36.48. The company had a trading volume of 1,266,009 shares, compared to its average volume of 1,344,805. The company has a market capitalization of $5.31 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 5.16 and a beta of 1.34. Sealed Air Co. has a one year low of $30.87 and a one year high of $41.14. The firm has a fifty day moving average price of $35.92 and a 200 day moving average price of $35.74. 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 released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations 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 was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, research analysts forecast that Sealed Air Co. will post 3.06 EPS 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 issued a $0.20 dividend. The ex-dividend date of this dividend 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 is presently 29.41%.

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.