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Northwestern Mutual Wealth Management Co. Decreases Holdings in Sealed Air Co. (NYSE:SEE)

Northwestern Mutual Wealth Management Co. decreased its position in shares of Sealed Air Co. (NYSE:SEEGet Rating) by 9.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,106 shares of the industrial products company’s stock after selling 223 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Sealed Air were worth $140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Sealed Air by 13.0% in the fourth quarter. BlackRock Inc. now owns 18,393,878 shares of the industrial products company’s stock worth $1,241,033,000 after buying an additional 2,114,602 shares during the last quarter. Kensico Capital Management Corp raised its holdings in shares of Sealed Air by 33.8% in the fourth quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock worth $282,912,000 after buying an additional 1,058,900 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Sealed Air by 1.2% in the fourth quarter. Bank of America Corp DE now owns 3,218,267 shares of the industrial products company’s stock worth $217,136,000 after buying an additional 37,369 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sealed Air by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,768,451 shares of the industrial products company’s stock worth $186,294,000 after buying an additional 22,136 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Sealed Air by 230.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,609,512 shares of the industrial products company’s stock worth $108,594,000 after buying an additional 1,122,961 shares during the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

Sealed Air Stock Up 1.8 %

SEE stock opened at $57.72 on Friday. The firm’s fifty day moving average is $57.85 and its 200 day moving average is $62.60. Sealed Air Co. has a one year low of $54.51 and a one year high of $70.72. The firm has a market cap of $8.38 billion, a PE ratio of 15.68, a P/E/G ratio of 2.19 and a beta of 1.14. The company has a debt-to-equity ratio of 18.30, a quick ratio of 0.72 and a current ratio of 1.34.

Sealed Air (NYSE:SEEGet Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the business earned $0.79 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Sealed Air Co. will post 4.15 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.20 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. Sealed Air’s dividend payout ratio (DPR) is 21.74%.

Insider Activity

In other Sealed Air news, CEO Edward L. Doheny II purchased 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $56.95 per share, with a total value of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares in the company, valued at approximately $29,343,715.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sealed Air news, SVP Sergio A. Pupkin purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $57.66 per share, with a total value of $57,660.00. Following the completion of the purchase, the senior vice president now owns 45,748 shares in the company, valued at approximately $2,637,829.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Edward L. Doheny II purchased 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $56.95 per share, for a total transaction of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares of the company’s stock, valued at approximately $29,343,715.30. The disclosure for this purchase can be found here. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SEE. Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research note on Thursday, July 7th. Royal Bank of Canada upgraded shares of Sealed Air from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $66.00 to $70.00 in a research note on Wednesday, August 3rd. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $64.00 in a research note on Wednesday, July 20th. Morgan Stanley cut their price objective on shares of Sealed Air from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, August 4th. Finally, Robert W. Baird cut their price objective on shares of Sealed Air to $67.00 in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $69.33.

Sealed Air Profile

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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