Oppenheimer Asset Management Inc. Lowers Position in Sealed Air Co. (NYSE:SEE)

Oppenheimer Asset Management Inc. lessened its stake in Sealed Air Co. (NYSE:SEE) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,659 shares of the industrial products company’s stock after selling 1,017 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sealed Air were worth $1,781,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in Sealed Air during the 3rd quarter valued at $139,800,000. Swedbank AB raised its holdings in shares of Sealed Air by 57.3% in the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after purchasing an additional 846,882 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sealed Air by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock valued at $83,542,000 after purchasing an additional 12,559 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its position in Sealed Air by 56.6% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after purchasing an additional 548,493 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

SEE has been the topic of a number of research analyst reports. Citigroup cut their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Bank of America decreased their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Down 4.7 %

SEE stock opened at $32.58 on Tuesday. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a market capitalization of $4.75 billion, a PE ratio of 11.98 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The stock has a 50-day simple moving average of $34.09 and a two-hundred day simple moving average of $34.93.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. Sealed Air’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities analysts predict that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.46%. Sealed Air’s dividend payout ratio is currently 44.20%.

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.