Quantinno Capital Management LP Sells 3,922 Shares of Sealed Air Co. (NYSE:SEE)

Quantinno Capital Management LP lowered its position in Sealed Air Co. (NYSE:SEE) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,212 shares of the industrial products company’s stock after selling 3,922 shares during the period. Quantinno Capital Management LP’s holdings in Sealed Air were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEE. Quarry LP raised its holdings in Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 311 shares in the last quarter. Readystate Asset Management LP grew its position in shares of Sealed Air by 24.4% in the 3rd quarter. Readystate Asset Management LP now owns 45,277 shares of the industrial products company’s stock worth $1,644,000 after buying an additional 8,890 shares during the period. Recurrent Investment Advisors LLC bought a new position in shares of Sealed Air in the 3rd quarter worth about $685,000. Maple Rock Capital Partners Inc. lifted its position in Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after acquiring an additional 548,493 shares during the period. Finally, Holocene Advisors LP boosted its stake in Sealed Air by 67.3% during the third quarter. Holocene Advisors LP now owns 179,608 shares of the industrial products company’s stock worth $6,520,000 after acquiring an additional 72,248 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 1.1 %

SEE opened at $35.96 on Friday. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.99 and a beta of 1.34. The firm has a 50 day moving average price of $35.99 and a 200-day moving average price of $35.72. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The business 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 company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Equities research analysts forecast that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.22%. Sealed Air’s dividend payout ratio (DPR) is 29.41%.

Analysts Set New Price Targets

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

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.