Wedge Capital Management L L P NC Cuts Position in Sealed Air Co. (NYSE:SEE)

Wedge Capital Management L L P NC decreased its position in Sealed Air Co. (NYSE:SEE) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 171,190 shares of the industrial products company’s stock after selling 1,265 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Sealed Air were worth $6,252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Sealed Air by 70.1% in the third quarter. Invesco Ltd. now owns 5,238,340 shares of the industrial products company’s stock worth $172,132,000 after acquiring an additional 2,159,143 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Sealed Air by 6,889.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 563,488 shares of the industrial products company’s stock worth $18,516,000 after purchasing an additional 555,426 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Sealed Air by 65.7% during the third quarter. Victory Capital Management Inc. now owns 1,217,884 shares of the industrial products company’s stock worth $40,020,000 after purchasing an additional 482,974 shares in the last quarter. Barclays PLC grew its stake in shares of Sealed Air by 143.4% during the third quarter. Barclays PLC now owns 753,857 shares of the industrial products company’s stock worth $24,769,000 after purchasing an additional 444,131 shares in the last quarter. Finally, Earnest Partners LLC grew its stake in shares of Sealed Air by 16.3% during the third quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock worth $70,975,000 after purchasing an additional 302,099 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 0.5 %

Shares of NYSE SEE opened at $31.49 on Wednesday. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $48.44. The firm’s 50 day moving average price is $34.91 and its 200 day moving average price is $34.31. The firm has a market cap of $4.59 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30.

Sealed Air (NYSE:SEE) last announced its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.99 earnings per share. Sealed Air’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sealed Air Co. will post 2.83 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s dividend payout ratio is currently 33.90%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SEE shares. Mizuho decreased their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and upped their target price for the company from $39.00 to $44.00 in a report on Monday, April 8th. Wolfe Research began coverage on shares of Sealed Air in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $35.00 to $43.00 in a report on Thursday, January 11th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.18.

Sealed Air Profile

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.