Sealed Air Co. (NYSE:SEE) Shares Sold by PDT Partners LLC

PDT Partners LLC lessened its holdings in shares of Sealed Air Co. (NYSE:SEE) by 61.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,894 shares of the industrial products company’s stock after selling 40,385 shares during the quarter. PDT Partners LLC’s holdings in Sealed Air were worth $904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. acquired a new stake in Sealed Air in the third quarter worth about $139,800,000. Swedbank AB bought a new stake in shares of Sealed Air during the 3rd quarter worth about $53,681,000. Millennium Management LLC lifted its stake in shares of Sealed Air by 38.2% in the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares during the period. Appian Way Asset Management LP boosted its holdings in shares of Sealed Air by 68.1% in the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock valued at $46,962,000 after acquiring an additional 546,701 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after acquiring an additional 502,999 shares during the period. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Up 1.0 %

Shares of NYSE:SEE opened at $36.60 on Monday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market cap of $5.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34. The firm has a 50 day simple moving average of $35.84 and a 200 day simple moving average of $35.81.

Sealed Air (NYSE:SEE) last issued its earnings results 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 business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders 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 29.41%.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Seven investment 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 stock. According to data from MarketBeat.com, Sealed Air presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

About Sealed Air

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.