Callodine Capital Management LP Makes New $677,000 Investment in Sealed Air Co. (NYSE:SEE)

Callodine Capital Management LP purchased a new position in Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 20,000 shares of the industrial products company's stock, valued at approximately $677,000.

A number of other institutional investors have also recently made changes to their positions in SEE. Smartleaf Asset Management LLC raised its position in Sealed Air by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 913 shares in the last quarter. A&I Financial Services LLC purchased a new position in shares of Sealed Air during the 4th quarter valued at about $527,000. Kwmg LLC lifted its position in Sealed Air by 5.0% in the 4th quarter. Kwmg LLC now owns 136,537 shares of the industrial products company's stock worth $4,619,000 after buying an additional 6,527 shares during the last quarter. Amundi lifted its position in Sealed Air by 131.6% in the 4th quarter. Amundi now owns 76,479 shares of the industrial products company's stock worth $2,576,000 after buying an additional 43,458 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after buying an additional 715,668 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Trading Down 0.1 %

Shares of SEE stock traded down $0.02 during trading hours on Wednesday, reaching $26.71. The company's stock had a trading volume of 531,976 shares, compared to its average volume of 1,532,129. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The stock has a market capitalization of $3.89 billion, a P/E ratio of 9.82 and a beta of 1.35. The firm's fifty day simple moving average is $29.44 and its 200 day simple moving average is $33.22.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $0.88 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Citigroup lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Bank of America reduced their price objective on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Finally, Raymond James dropped their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a report on Tuesday. Five 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Transactions at Sealed Air

In other news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, the director now directly 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. Corporate insiders own 0.30% of the company's stock.

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.