Invesco Ltd. Decreases Position in Sealed Air Corporation $SEE

Invesco Ltd. trimmed its position in Sealed Air Corporation (NYSE:SEE) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,609,686 shares of the industrial products company’s stock after selling 274,514 shares during the period. Invesco Ltd. owned about 2.45% of Sealed Air worth $112,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEE. Impax Asset Management Group plc raised its holdings in Sealed Air by 18.6% in the 2nd quarter. Impax Asset Management Group plc now owns 680,824 shares of the industrial products company’s stock valued at $21,126,000 after acquiring an additional 106,627 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Sealed Air by 43.3% during the 2nd quarter. Alberta Investment Management Corp now owns 2,287,300 shares of the industrial products company’s stock worth $70,975,000 after purchasing an additional 691,200 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Sealed Air by 9.4% in the first quarter. Russell Investments Group Ltd. now owns 105,651 shares of the industrial products company’s stock valued at $3,053,000 after purchasing an additional 9,052 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Sealed Air by 43.1% in the first quarter. Public Sector Pension Investment Board now owns 519,339 shares of the industrial products company’s stock valued at $15,009,000 after purchasing an additional 156,309 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Sealed Air by 1.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 12,545,129 shares of the industrial products company’s stock valued at $362,555,000 after purchasing an additional 228,937 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Trading Down 0.4%

Shares of SEE stock opened at $41.41 on Wednesday. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $44.27. The firm has a market cap of $6.09 billion, a PE ratio of 13.45 and a beta of 1.35. The company has a 50-day moving average of $37.94 and a two-hundred day moving average of $33.99. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.29 and a quick ratio of 0.75.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, November 4th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 8.52% and a return on equity of 54.90%. Sealed Air has set its FY 2025 guidance at 3.250-3.350 EPS. On average, analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, December 5th. Sealed Air’s dividend payout ratio is 25.97%.

Analysts Set New Price Targets

Several brokerages have issued reports on SEE. Wall Street Zen cut Sealed Air from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sealed Air in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Sealed Air from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Wells Fargo & Company boosted their target price on shares of Sealed Air from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price target (up previously from $43.80) on shares of Sealed Air in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Sealed Air has an average rating of “Moderate Buy” and an average price target of $42.83.

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.