Shell Asset Management Co. Has $53,000 Position in Sealed Air Corporation $SEE

Shell Asset Management Co. lessened its position in Sealed Air Corporation (NYSE:SEE) by 95.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,502 shares of the industrial products company’s stock after selling 34,100 shares during the period. Shell Asset Management Co.’s holdings in Sealed Air were worth $53,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Sealed Air by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 4,220,533 shares of the industrial products company’s stock valued at $130,963,000 after buying an additional 507,067 shares during the period. Geode Capital Management LLC lifted its holdings in Sealed Air by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,453,216 shares of the industrial products company’s stock worth $76,137,000 after acquiring an additional 12,909 shares in the last quarter. Alberta Investment Management Corp grew its position in shares of Sealed Air by 43.3% in the 2nd quarter. Alberta Investment Management Corp now owns 2,287,300 shares of the industrial products company’s stock valued at $70,975,000 after purchasing an additional 691,200 shares during the period. Brandes Investment Partners LP increased its stake in Sealed Air by 30.1% during the 2nd quarter. Brandes Investment Partners LP now owns 1,908,782 shares of the industrial products company’s stock worth $59,230,000 after purchasing an additional 441,140 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in Sealed Air by 12.7% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 1,674,956 shares of the industrial products company’s stock worth $51,974,000 after buying an additional 188,823 shares during the period. 94.40% of the stock is owned by institutional investors.

Sealed Air Price Performance

NYSE:SEE opened at $41.95 on Monday. Sealed Air Corporation has a 12-month low of $22.78 and a 12-month high of $44.27. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 13.62 and a beta of 1.35. The stock’s 50 day moving average price is $41.70 and its two-hundred day moving average price is $37.84. The company has a quick ratio of 0.75, a current ratio of 1.29 and a debt-to-equity ratio of 3.34.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 1.9%. Sealed Air’s dividend payout ratio (DPR) is currently 25.97%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SEE shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price (up from $43.80) on shares of Sealed Air in a research note on Monday, November 17th. Wells Fargo & Company upped their target price on Sealed Air from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Wall Street Zen cut Sealed Air from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sealed Air in a research report on Monday, December 29th. Finally, Raymond James Financial downgraded Sealed Air from an “outperform” rating to a “market perform” rating in a report on Monday, December 22nd. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Sealed Air has a consensus rating of “Moderate Buy” and an average target price of $43.42.

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.