Harvey Partners LLC Sells 225,000 Shares of Sealed Air Co. (NYSE:SEE)

Harvey Partners LLC cut its position in Sealed Air Co. (NYSE:SEE) by 41.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 321,500 shares of the industrial products company’s stock after selling 225,000 shares during the period. Harvey Partners LLC owned approximately 0.22% of Sealed Air worth $11,670,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Sealed Air by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 80,843 shares of the industrial products company’s stock worth $3,009,000 after acquiring an additional 4,471 shares in the last quarter. Atria Investments Inc acquired a new position in Sealed Air in the 1st quarter valued at $1,054,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Sealed Air by 90.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 48,479 shares of the industrial products company’s stock worth $1,804,000 after purchasing an additional 23,029 shares during the period. MADDEN SECURITIES Corp raised its holdings in Sealed Air by 9.1% during the second quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 600 shares in the last quarter. Finally, Cardinal Capital Management lifted its position in shares of Sealed Air by 4.4% in the 2nd quarter. Cardinal Capital Management now owns 34,778 shares of the industrial products company’s stock valued at $1,210,000 after acquiring an additional 1,467 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SEE shares. Royal Bank of Canada decreased their price target 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. Morgan Stanley started coverage on Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective 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. 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 research note on Friday, August 9th. Finally, StockNews.com cut Sealed Air from a “buy” rating to a “hold” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $36.61 on Tuesday. The company has a 50 day moving average of $35.84 and a 200 day moving average of $35.79. The stock has a market cap of $5.33 billion, a P/E ratio of 13.46, a P/E/G ratio of 5.06 and a beta of 1.34. 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 Co. has a 12 month low of $30.87 and a 12 month high of $41.14.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating 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 analyst estimates of $1.34 billion. During the same period in the previous year, the business posted $0.77 EPS. Sealed Air’s revenue was down 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sealed Air Co. will post 3.06 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.19%. Sealed Air’s dividend payout ratio (DPR) is presently 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.