BNP Paribas Arbitrage SNC Reduces Stake in Sealed Air Co. (NYSE:SEE)

BNP Paribas Arbitrage SNC reduced its position in Sealed Air Co. (NYSE:SEE) by 22.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,267 shares of the industrial products company’s stock after selling 111,739 shares during the period. BNP Paribas Arbitrage SNC owned about 0.27% of Sealed Air worth $15,451,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SEE. MetLife Investment Management LLC grew its holdings in Sealed Air by 34.1% during the 1st quarter. MetLife Investment Management LLC now owns 43,894 shares of the industrial products company’s stock valued at $2,939,000 after buying an additional 11,160 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Sealed Air by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,824 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 1,228 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Sealed Air by 93.2% during the 1st quarter. Raymond James Trust N.A. now owns 6,135 shares of the industrial products company’s stock valued at $411,000 after buying an additional 2,960 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Sealed Air by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 980,118 shares of the industrial products company’s stock valued at $65,636,000 after buying an additional 34,459 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Sealed Air by 2.7% during the 1st quarter. Vontobel Holding Ltd. now owns 19,145 shares of the industrial products company’s stock valued at $1,307,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 89.45% of the company’s stock.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, CEO Edward L. Doheny II bought 10,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $33.85 per share, with a total value of $338,500.00. Following the completion of the transaction, the chief executive officer now owns 658,360 shares in the company, valued at $22,285,486. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SEE. William Blair cut Sealed Air from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. Wells Fargo & Company decreased their price objective on Sealed Air from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Thursday, October 19th. Royal Bank of Canada decreased their price objective on Sealed Air from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. TheStreet cut Sealed Air from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Finally, Raymond James initiated coverage on Sealed Air in a report on Friday, October 20th. They set a “market perform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Sealed Air currently has an average rating of “Hold” and an average price target of $43.55.

Sealed Air Trading Up 0.5 %

NYSE:SEE opened at $33.30 on Friday. The business’s 50-day moving average is $31.94 and its two-hundred day moving average is $37.44. The company has a debt-to-equity ratio of 11.34, a current ratio of 1.23 and a quick ratio of 0.75. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $56.43. The firm has a market capitalization of $4.81 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 7.15 and a beta of 1.27.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, November 30th. Sealed Air’s dividend payout ratio (DPR) is presently 37.21%.

About Sealed Air

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and NewZealand. 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.