Sealed Air Co. (NYSE:SEE) Shares Sold by AlphaQuest LLC

AlphaQuest LLC cut its holdings in Sealed Air Co. (NYSE:SEE) by 45.7% during the 4th quarter, Holdings Channel reports. The firm owned 10,670 shares of the industrial products company’s stock after selling 8,968 shares during the period. AlphaQuest LLC’s holdings in Sealed Air were worth $361,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quarry LP lifted its position in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 311 shares in the last quarter. Arizona State Retirement System raised its stake in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 348 shares during the last quarter. Choreo LLC lifted its holdings in Sealed Air by 3.7% in the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 351 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 375 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Sealed Air by 3.3% during the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after buying an additional 377 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Up 1.0 %

Shares of SEE stock opened at $29.85 on Friday. 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 fifty-two week low of $29.33 and a fifty-two week high of $41.14. The firm’s 50 day moving average price is $33.53 and its two-hundred day moving average price is $34.70. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 10.97 and a beta of 1.32.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 2.68%. Sealed Air’s dividend payout ratio (DPR) is currently 44.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SEE shares. Bank of America reduced their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. UBS Group lifted their price objective on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley reduced their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Insider Activity at Sealed Air

In other news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, with a total value of $33,600.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.