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

Garner Asset Management Corp lessened its stake in Sealed Air Co. (NYSE:SEE) by 20.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Sealed Air in the 2nd quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in Sealed Air in the second quarter worth $34,000. Allspring Global Investments Holdings LLC increased its position in shares of Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 1,422 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sealed Air by 523.6% during 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 purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sealed Air in the 2nd quarter worth $105,000. 94.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SEE. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $35.00 in a research note on Friday, August 9th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday. 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 note on Tuesday, October 15th. Wells Fargo & Company lifted their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Price Performance

NYSE:SEE opened at $35.90 on Friday. The firm’s fifty day moving average is $35.69 and its two-hundred day moving average is $35.86. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 4.91 and a beta of 1.34. Sealed Air Co. has a one year low of $30.87 and a one year high of $41.14. 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 (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. Research analysts expect that Sealed Air Co. will post 3.07 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

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.