Sealed Air Co. (NYSE:SEE) Stake Lowered by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in Sealed Air Co. (NYSE:SEE) by 72.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 307,398 shares of the industrial products company’s stock after selling 801,066 shares during the quarter. Franklin Resources Inc. owned approximately 0.21% of Sealed Air worth $10,906,000 as of its most recent filing with the Securities and Exchange Commission.

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

Sealed Air Trading Down 1.1 %

Shares of SEE stock opened at $33.59 on Friday. The firm has a market capitalization of $4.89 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The firm’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $35.60. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.20 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.38%. Sealed Air’s dividend payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SEE shares. Truist Financial decreased their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Thursday, October 17th. Royal Bank of Canada cut their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 17th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley initiated coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sealed Air presently has a consensus rating of “Moderate Buy” and an average price target 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.