Kiltearn Partners LLP Sells 27,900 Shares of Sealed Air Corporation $SEE

Kiltearn Partners LLP cut its stake in shares of Sealed Air Corporation (NYSE:SEE) by 7.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 335,500 shares of the industrial products company’s stock after selling 27,900 shares during the quarter. Sealed Air accounts for about 2.4% of Kiltearn Partners LLP’s portfolio, making the stock its 18th largest position. Kiltearn Partners LLP’s holdings in Sealed Air were worth $11,860,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SEE. Brighton Jones LLC acquired a new stake in shares of Sealed Air during the 4th quarter valued at $737,000. Royal Bank of Canada increased its holdings in Sealed Air by 21.4% in the 1st quarter. Royal Bank of Canada now owns 118,808 shares of the industrial products company’s stock worth $3,434,000 after purchasing an additional 20,925 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sealed Air by 94.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,553 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 756 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Sealed Air in the first quarter valued at about $201,000. Finally, United Services Automobile Association acquired a new stake in shares of Sealed Air during the first quarter valued at about $272,000. 94.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEE. Morgan Stanley boosted their price target on Sealed Air from $31.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of Sealed Air from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Stifel Nicolaus reissued a “hold” rating and set a $45.00 target price (up from $43.80) on shares of Sealed Air in a report on Monday, November 17th. Robert W. Baird restated a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Sealed Air in a research report on Thursday, December 18th. Finally, Truist Financial raised their price target on shares of Sealed Air from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Sealed Air has an average rating of “Moderate Buy” and a consensus target price of $44.09.

Sealed Air Price Performance

Shares of SEE opened at $42.00 on Monday. Sealed Air Corporation has a 1 year low of $22.78 and a 1 year high of $44.27. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.91 and a quick ratio of 0.56. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.24 and a beta of 1.35. The business has a 50-day moving average of $41.79 and a 200-day moving average of $38.66.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 47.21% and a net margin of 9.43%.The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts anticipate that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. Sealed Air’s dividend payout ratio is currently 23.32%.

About Sealed Air

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.