Schaper Benz & Wise Investment Counsel Inc. WI Sells 1,070 Shares of Sealed Air Co. (NYSE:SEE)

Schaper Benz & Wise Investment Counsel Inc. WI lowered its stake in Sealed Air Co. (NYSE:SEE) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,686 shares of the industrial products company’s stock after selling 1,070 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Sealed Air were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SEE. Isthmus Partners LLC boosted its stake in Sealed Air by 4.6% in the 1st quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 322 shares during the period. United Services Automobile Association grew its holdings in shares of Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after buying an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after buying an additional 467 shares in the last quarter. Sendero Wealth Management LLC lifted its stake in Sealed Air by 7.2% in the 3rd quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock valued at $298,000 after acquiring an additional 550 shares in the last quarter. Finally, MADDEN SECURITIES Corp boosted its position in Sealed Air by 9.1% during the 2nd quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SEE. Citigroup lowered their price objective on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company boosted their price target on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their price objective on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday. Truist Financial dropped their target price on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the company from $47.00 to $35.00 in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Up 1.2 %

SEE opened at $37.12 on Friday. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The stock’s fifty day simple moving average is $34.64 and its 200 day simple moving average is $35.31. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $41.14. The stock has a market cap of $5.41 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 8.98 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company posted $0.80 EPS. Sealed Air’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, research analysts expect that Sealed Air Co. will post 2.93 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 32.13%.

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.