Sealed Air Co. (NYSE:SEE) Shares Sold by Marathon Asset Management Ltd

Marathon Asset Management Ltd reduced its position in shares of Sealed Air Co. (NYSE:SEE) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 589,812 shares of the industrial products company’s stock after selling 68,263 shares during the period. Marathon Asset Management Ltd owned about 0.41% of Sealed Air worth $21,410,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Family Firm Inc. acquired a new position in Sealed Air in the 2nd quarter valued at about $26,000. Fidelis Capital Partners LLC purchased a new stake in Sealed Air during the 1st quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in Sealed Air during the 2nd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC purchased a new position in Sealed Air in the 1st quarter valued at approximately $52,000. Finally, Covestor Ltd boosted its position in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Up 3.9 %

Sealed Air stock opened at $36.67 on Friday. The stock has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $35.31. The company has a market capitalization of $5.34 billion, a P/E ratio of 14.79, a PEG ratio of 8.98 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.79 and a current ratio of 1.30. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. Sealed Air’s dividend payout ratio (DPR) is currently 32.26%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Morgan Stanley initiated coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Truist Financial lowered their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and reduced their price objective for the company from $47.00 to $35.00 in a report on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sealed Air currently has an average 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.