Sealed Air Co. (NYSE:SEE) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in shares of Sealed Air Co. (NYSE:SEE) by 14.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,288 shares of the industrial products company’s stock after selling 9,465 shares during the period. Meyer Handelman Co.’s holdings in Sealed Air were worth $2,080,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Isthmus Partners LLC boosted its position in shares of Sealed Air by 4.6% during the 1st quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 322 shares in the last quarter. United Services Automobile Association boosted its holdings in Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after buying an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC grew 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 worth $1,275,000 after buying an additional 467 shares during the last quarter. Sendero Wealth Management LLC increased its holdings in shares of Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after buying an additional 550 shares in the last quarter. Finally, MADDEN SECURITIES Corp lifted its position in shares of Sealed Air by 9.1% during the 2nd quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock valued at $251,000 after acquiring an additional 600 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $35.12 on Friday. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 8.77 and a beta of 1.34. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $41.14. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The business has a fifty day simple moving average of $34.50 and a 200 day simple moving average of $35.34.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. As a group, sell-side analysts predict that Sealed Air Co. will post 2.93 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.28%. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SEE shares. Truist Financial reaffirmed a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research report on Monday, June 17th. Citigroup decreased their target price on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday, July 8th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. UBS Group decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.30.

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.