Franklin Resources Inc. Has $10.91 Million Position in Sealed Air Co. (NYSE:SEE)

Franklin Resources Inc. lessened its holdings in Sealed Air Co. (NYSE:SEE) by 72.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,398 shares of the industrial products company’s stock after selling 801,066 shares during the period. Franklin Resources Inc.’s holdings in Sealed Air were worth $10,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Family Firm Inc. bought a new position in shares of Sealed Air during the 2nd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $99,000 after acquiring an additional 1,422 shares during the period. Burney Co. boosted its stake in shares of Sealed Air by 6.9% in the 2nd quarter. Burney Co. now owns 19,747 shares of the industrial products company’s stock valued at $687,000 after purchasing an additional 1,278 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sealed Air by 2.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,531 shares of the industrial products company’s stock worth $1,027,000 after purchasing an additional 711 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Sealed Air during the 2nd quarter worth about $244,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 1.1 %

Shares of NYSE SEE opened at $33.59 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $4.89 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The firm’s 50-day moving average is $35.98 and its 200-day moving average is $35.60. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last released 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 during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. Equities analysts expect that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Sealed Air 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.