Meyer Handelman Co. Decreases Stake in Sealed Air Co. (NYSE:SEE)

Meyer Handelman Co. lessened its holdings in Sealed Air Co. (NYSE:SEE) by 15.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,753 shares of the industrial products company’s stock after selling 12,420 shares during the period. Meyer Handelman Co.’s holdings in Sealed Air were worth $2,322,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SEE. Isthmus Partners LLC raised its holdings in shares of Sealed Air by 4.6% in the 1st quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 322 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Sealed Air by 4.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock valued at $286,000 after buying an additional 342 shares during the period. Acuitas Investments LLC raised its stake in shares of Sealed Air by 30.8% in the fourth quarter. Acuitas Investments LLC now owns 1,700 shares of the industrial products company’s stock valued at $62,000 after buying an additional 400 shares during the period. Signaturefd LLC lifted its position in shares of Sealed Air by 43.2% during the 4th quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock valued at $56,000 after buying an additional 462 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Sealed Air by 36.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 598 shares during the period. 94.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SEE shares. Truist Financial reaffirmed a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a report on Monday, June 17th. Stifel Nicolaus assumed coverage on shares of Sealed Air in a report on Tuesday, July 9th. They issued a “buy” rating and a $47.00 price objective for the company. William Blair reissued a “market perform” rating on shares of Sealed Air in a report on Thursday, May 2nd. Wells Fargo & Company raised their price target on Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.60.

Sealed Air Stock Up 1.3 %

SEE stock opened at $32.69 on Wednesday. The company’s 50 day moving average is $36.01 and its 200 day moving average is $35.67. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 8.42 and a beta of 1.35. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts predict that Sealed Air Co. will post 2.91 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio is currently 32.13%.

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.