Sealed Air Co. (NYSE:SEE) Position Cut by Guggenheim Capital LLC

Posted by on Mar 5th, 2023

Guggenheim Capital LLC trimmed its holdings in Sealed Air Co. (NYSE:SEE – Get Rating) by 25.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,447 shares of the industrial products company’s stock after selling 12,932 shares during the quarter. Guggenheim Capital LLC’s holdings in Sealed Air were worth $1,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Sealed Air by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 16,464,222 shares of the industrial products company’s stock valued at $1,102,444,000 after purchasing an additional 148,634 shares in the last quarter. Invesco Ltd. boosted its stake in Sealed Air by 8.1% during the 1st quarter. Invesco Ltd. now owns 1,864,897 shares of the industrial products company’s stock valued at $124,874,000 after purchasing an additional 140,270 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Sealed Air by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,612,132 shares of the industrial products company’s stock valued at $71,756,000 after purchasing an additional 5,551 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Sealed Air by 21.2% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,157,315 shares of the industrial products company’s stock valued at $51,512,000 after purchasing an additional 202,073 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Sealed Air by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,134,440 shares of the industrial products company’s stock valued at $75,962,000 after purchasing an additional 19,077 shares in the last quarter. 89.63% of the stock is owned by institutional investors.

Sealed Air Price Performance

SEE opened at $49.12 on Friday. The stock has a fifty day moving average of $51.69 and a 200-day moving average of $50.49. The firm has a market capitalization of $7.07 billion, a P/E ratio of 14.71, a PEG ratio of 4.28 and a beta of 1.24. Sealed Air Co. has a 12-month low of $41.24 and a 12-month high of $70.72. The company has a quick ratio of 0.60, a current ratio of 1.02 and a debt-to-equity ratio of 9.41.

Sealed Air (NYSE:SEE – Get Rating) last released its earnings results on Thursday, February 9th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Sealed Air had a return on equity of 254.05% and a net margin of 8.71%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities analysts forecast that Sealed Air Co. will post 3.65 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.63%. Sealed Air’s dividend payout ratio is 23.95%.

Analyst Ratings Changes

SEE has been the subject of a number of research reports. Wells Fargo & Company increased their price target on Sealed Air from $43.00 to $53.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Citigroup increased their price objective on Sealed Air from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Morgan Stanley cut their price objective on Sealed Air from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Finally, Credit Suisse Group cut their price objective on Sealed Air from $64.00 to $59.00 and set a “neutral” rating for the company in a research report on Monday, February 13th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.82.

Sealed Air Profile

(Get Rating)

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 services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

Featured Stories

Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Co. (NYSE:SEE – Get Rating).

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

Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.