Rockefeller Capital Management L.P. Sells 13,955 Shares of Sealed Air Co. (NYSE:SEE)

Rockefeller Capital Management L.P. lessened its holdings in shares of Sealed Air Co. (NYSE:SEE) by 10.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 123,552 shares of the industrial products company’s stock after selling 13,955 shares during the period. Rockefeller Capital Management L.P.’s holdings in Sealed Air were worth $4,485,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SEE. Family Firm Inc. acquired a new stake in Sealed Air during the 2nd quarter worth $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air in the 2nd quarter valued at $34,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Sealed Air by 100.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after buying an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after buying an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sealed Air in the 2nd quarter valued at $105,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SEE. JPMorgan Chase & Co. decreased their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company upped their target price on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Finally, Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. Eight equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

Shares of NYSE SEE opened at $37.30 on Thursday. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a fifty day simple moving average of $35.88 and a 200 day simple moving average of $35.76. The company has a market capitalization of $5.43 billion, a PE ratio of 13.71, a P/E/G ratio of 5.06 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. On average, sell-side analysts forecast that Sealed Air Co. will post 3.06 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. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio is currently 29.41%.

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.