Russell Investments Group Ltd. Sells 12,512 Shares of Sealed Air Co. (NYSE:SEE)

Russell Investments Group Ltd. decreased its holdings in Sealed Air Co. (NYSE:SEE) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,783 shares of the industrial products company’s stock after selling 12,512 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sealed Air were worth $2,769,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SEE. FMR LLC raised its stake in shares of Sealed Air by 3.1% in the 1st quarter. FMR LLC now owns 88,646 shares of the industrial products company’s stock valued at $4,083,000 after buying an additional 2,697 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Sealed Air by 162.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 31,810 shares of the industrial products company’s stock valued at $1,457,000 after buying an additional 19,710 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Sealed Air by 45.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 151,868 shares of the industrial products company’s stock valued at $6,959,000 after buying an additional 47,320 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Sealed Air in the 1st quarter valued at $2,048,000. Finally, IFM Investors Pty Ltd increased its position in shares of Sealed Air by 31.8% during the 1st quarter. IFM Investors Pty Ltd now owns 18,571 shares of the industrial products company’s stock worth $851,000 after purchasing an additional 4,486 shares in the last quarter. Institutional investors own 90.00% of the company’s stock.

Shares of NYSE SEE opened at $58.15 on Wednesday. The firm has a market capitalization of $8.72 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 39.57. Sealed Air Co. has a 1 year low of $36.27 and a 1 year high of $62.04. The firm’s 50-day moving average is $58.47 and its 200-day moving average is $54.24.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Monday, August 2nd. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.01. Sealed Air had a net margin of 9.56% and a return on equity of 519.84%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the firm earned $0.76 EPS. Sealed Air’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Sealed Air Co. will post 3.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Friday, September 3rd will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.80 annualized dividend and a yield of 1.38%. Sealed Air’s dividend payout ratio (DPR) is currently 25.08%.

SEE has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Sealed Air from $52.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 5th. Truist initiated coverage on shares of Sealed Air in a research report on Monday. They set a “buy” rating and a $72.00 target price for the company. Robert W. Baird reiterated a “buy” rating and set a $72.00 target price on shares of Sealed Air in a research report on Friday, September 10th. William Blair initiated coverage on shares of Sealed Air in a research report on Monday, August 23rd. They set an “outperform” rating for the company. Finally, BMO Capital Markets increased their target price on shares of Sealed Air from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Thursday, August 5th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.13.

Sealed Air Company Profile

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment serves the perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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