Easterly Investment Partners LLC Sells 86,196 Shares of Sealed Air Co. (NYSE:SEE)

Easterly Investment Partners LLC reduced its holdings in Sealed Air Co. (NYSE:SEE) by 37.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,627 shares of the industrial products company’s stock after selling 86,196 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.10% of Sealed Air worth $5,141,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Family Firm Inc. acquired a new stake in shares of Sealed Air in the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in Sealed Air in the 2nd quarter valued at about $34,000. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air in the first quarter worth about $52,000. Covestor Ltd lifted its position in shares of Sealed Air by 651.2% during the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on SEE shares. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and lowered their target price for the company from $47.00 to $35.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. UBS Group decreased their price objective on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Wells Fargo & Company raised their target price on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Truist Financial cut their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Up 0.6 %

SEE stock traded up $0.22 during trading hours on Friday, reaching $35.79. 341,884 shares of the stock were exchanged, compared to its average volume of 1,510,109. The firm’s 50-day moving average is $35.34 and its 200-day moving average is $35.65. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 9.39 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13. The firm 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 85.65% and a net margin of 6.64%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, equities research analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 yield of 2.24%. The ex-dividend date is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 32.26%.

Sealed Air Company Profile

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.