Corient Private Wealth LLC Sells 15,000 Shares of Sealed Air Co. (NYSE:SEE)

Corient Private Wealth LLC reduced its position in Sealed Air Co. (NYSE:SEE - Free Report) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,809 shares of the industrial products company's stock after selling 15,000 shares during the quarter. Corient Private Wealth LLC's holdings in Sealed Air were worth $569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEE. Charles Schwab Investment Management Inc. increased its stake in Sealed Air by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company's stock valued at $58,587,000 after acquiring an additional 502,999 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Sealed Air by 49.2% in the 3rd quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company's stock valued at $771,000 after purchasing an additional 7,003 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Sealed Air by 175.5% during the 3rd quarter. Bank of Montreal Can now owns 256,641 shares of the industrial products company's stock worth $9,411,000 after buying an additional 163,493 shares in the last quarter. FMR LLC lifted its position in shares of Sealed Air by 28.0% during the 3rd quarter. FMR LLC now owns 626,348 shares of the industrial products company's stock worth $22,736,000 after buying an additional 137,073 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Sealed Air by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 561,577 shares of the industrial products company's stock valued at $20,385,000 after buying an additional 110,806 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SEE shares. Morgan Stanley dropped their target price 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. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 6th. UBS Group boosted their target price on shares of Sealed Air from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Wells Fargo & Company increased their price target on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Citigroup reduced their price objective on Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Six research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.25.

Insider Transactions at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the acquisition, the director now owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

Sealed Air Trading Up 0.1 %

Shares of SEE traded up $0.02 during mid-day trading on Wednesday, reaching $29.07. 1,085,075 shares of the company were exchanged, compared to its average volume of 1,492,927. The business has a 50 day simple moving average of $32.28 and a two-hundred day simple moving average of $34.29. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market capitalization of $4.24 billion, a PE ratio of 10.69 and a beta of 1.32. Sealed Air Co. has a 52 week low of $28.37 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.88 EPS. The company's revenue was down .4% compared to the same quarter last year. On average, analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared 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 of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. Sealed Air's payout ratio is currently 44.20%.

Sealed Air Company 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.