Kiltearn Partners LLP Sells 23,200 Shares of Sealed Air Co. (NYSE:SEE)

Kiltearn Partners LLP lowered its holdings in shares of Sealed Air Co. (NYSE:SEE) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 507,800 shares of the industrial products company’s stock after selling 23,200 shares during the quarter. Sealed Air accounts for about 2.5% of Kiltearn Partners LLP’s portfolio, making the stock its 17th largest position. Kiltearn Partners LLP’s holdings in Sealed Air were worth $18,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions 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 bought a new position in shares of Sealed Air during the second quarter valued at approximately $34,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $99,000 after buying an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 acquiring an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sealed Air in the second quarter worth $105,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Thursday, October 17th. Royal Bank of Canada dropped their target price on shares of 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 upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. decreased their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the company from $47.00 to $35.00 in a report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sealed Air has an average rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Down 1.8 %

Shares of SEE stock opened at $35.95 on Wednesday. The stock’s fifty day moving average price is $35.74 and its 200 day moving average price is $35.85. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 5.06 and a beta of 1.34.

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

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s dividend payout ratio is presently 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.