Schaper Benz & Wise Investment Counsel Inc. WI Sells 600 Shares of Sealed Air Co. (NYSE:SEE)

Schaper Benz & Wise Investment Counsel Inc. WI lessened its stake in shares of Sealed Air Co. (NYSE:SEE) by 5.8% in the first quarter, Holdings Channel reports. The institutional investor owned 9,786 shares of the industrial products company’s stock after selling 600 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Sealed Air were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Sealed Air by 28.1% during the first quarter. Brighton Jones LLC now owns 27,925 shares of the industrial products company’s stock valued at $807,000 after buying an additional 6,125 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Sealed Air by 1,263.8% during the first quarter. Exchange Traded Concepts LLC now owns 3,464 shares of the industrial products company’s stock valued at $100,000 after buying an additional 3,210 shares during the period. Sound Income Strategies LLC increased its position in shares of Sealed Air by 8.3% during the first quarter. Sound Income Strategies LLC now owns 85,997 shares of the industrial products company’s stock valued at $2,485,000 after buying an additional 6,568 shares during the period. Elevation Point Wealth Partners LLC increased its position in shares of Sealed Air by 11.6% during the first quarter. Elevation Point Wealth Partners LLC now owns 25,098 shares of the industrial products company’s stock valued at $725,000 after buying an additional 2,600 shares during the period. Finally, CX Institutional bought a new stake in shares of Sealed Air during the first quarter valued at about $52,000. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $31.39 on Tuesday. The stock’s fifty day moving average is $29.87 and its two-hundred day moving average is $31.85. The company has a market capitalization of $4.62 billion, a PE ratio of 11.54 and a beta of 1.37. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 52 week low of $22.78 and a 52 week high of $38.85.

Sealed Air (NYSE:SEE) last issued its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, June 13th. Sealed Air’s dividend payout ratio (DPR) is presently 39.60%.

Wall Street Analysts Forecast Growth

SEE has been the topic of several analyst reports. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research report on Tuesday, March 4th. Mizuho reduced their price target on shares of Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. UBS Group upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, April 7th. Truist Financial reduced their price target on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Raymond James reduced their price target on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.