Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Sealed Air Co. (NYSE:SEE) by 28.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,400 shares of the industrial products company’s stock after selling 9,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sealed Air were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Sealed Air during the second quarter worth $28,000. Optimum Investment Advisors bought a new position in Sealed Air during the second quarter valued at about $36,000. CSat Investment Advisory L.P. raised its holdings in Sealed Air by 32.1% during the first quarter. CSat Investment Advisory L.P. now owns 2,492 shares of the industrial products company’s stock valued at $114,000 after buying an additional 606 shares in the last quarter. Investment Counselors of Maryland LLC bought a new position in Sealed Air during the first quarter valued at about $140,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its holdings in Sealed Air by 23.6% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,370 shares of the industrial products company’s stock valued at $140,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
SEE stock opened at $55.87 on Wednesday. Sealed Air Co. has a twelve month low of $36.27 and a twelve month high of $62.04. The company has a market cap of $8.37 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The business’s 50-day simple moving average is $58.36 and its 200 day simple moving average is $54.71. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 39.57.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Friday, September 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Thursday, September 2nd. Sealed Air’s payout ratio is 25.08%.
Several equities analysts have weighed in on the company. Truist assumed coverage on Sealed Air in a report on Monday, September 13th. They set a “buy” rating and a $72.00 target price on the stock. Robert W. Baird restated a “buy” rating and set a $72.00 target price on shares of Sealed Air in a report on Friday, September 10th. Morgan Stanley raised their target price on Sealed Air from $52.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. William Blair initiated coverage on Sealed Air in a research note on Monday, August 23rd. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets lifted their price objective on Sealed Air from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday, August 5th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $60.71.
Sealed Air Company Profile
Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.
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