Orion Portfolio Solutions LLC Has $528,000 Stake in Sealed Air Co. (NYSE:SEE)

Orion Portfolio Solutions LLC reduced its holdings in shares of Sealed Air Co. (NYSE:SEE) by 35.1% in the third quarter, HoldingsChannel.com reports. The fund owned 14,535 shares of the industrial products company’s stock after selling 7,872 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Sealed Air were worth $528,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SEE. Family Firm Inc. acquired a new stake in Sealed Air during the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in Sealed Air during the 2nd quarter worth about $34,000. Allspring Global Investments Holdings LLC grew its holdings in Sealed Air by 100.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 1,422 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Sealed Air by 523.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 2,445 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sealed Air during the 2nd quarter worth about $105,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

Shares of NYSE SEE opened at $35.54 on Wednesday. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The firm’s 50-day simple moving average is $36.03 and its 200 day simple moving average is $35.67.

Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend yield of 2.25%. Sealed Air’s dividend payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SEE. Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research note on Thursday, October 17th. Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $39.00 target price for the company. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, Truist Financial reduced their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Sealed Air

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.