Garner Asset Management Corp Lowers Stock Holdings in Sealed Air Co. (NYSE:SEE)

Garner Asset Management Corp lessened its holdings in Sealed Air Co. (NYSE:SEE) by 20.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,267 shares of the industrial products company’s stock after selling 3,599 shares during the period. Garner Asset Management Corp’s holdings in Sealed Air were worth $518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC grew its position in shares of Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in Sealed Air during the 3rd quarter valued at approximately $139,800,000. Dimensional Fund Advisors LP raised its position in shares of Sealed Air by 33.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after buying an additional 479,675 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after buying an additional 24,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 worth $58,587,000 after acquiring an additional 502,999 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Performance

Shares of NYSE:SEE opened at $35.90 on Friday. The firm’s 50 day simple moving average is $35.69 and its 200-day simple moving average is $35.86. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a one year low of $30.87 and a one year high of $41.14. The firm has a market cap of $5.23 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its quarterly earnings data 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. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.77 EPS. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts predict that Sealed Air Co. will post 3.07 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Morgan Stanley began coverage on Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price target for the company. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada lowered their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and a consensus 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.