Jump Financial LLC Cuts Stock Position in Sealed Air Co. (NYSE:SEE)

Jump Financial LLC lowered its position in Sealed Air Co. (NYSE:SEE - Free Report) by 61.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,572 shares of the industrial products company's stock after selling 51,275 shares during the period. Jump Financial LLC's holdings in Sealed Air were worth $1,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SEE. Vanguard Group Inc. lifted its position in shares of Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after acquiring an additional 2,754,395 shares in the last quarter. Invesco Ltd. grew its position in Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after acquiring an additional 1,549,184 shares during the last quarter. Norges Bank purchased a new stake in shares of Sealed Air in the 4th quarter worth $50,562,000. Victory Capital Management Inc. boosted its position in Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock valued at $68,182,000 after acquiring an additional 920,000 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock valued at $78,678,000 after acquiring an additional 846,882 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho cut their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Citigroup dropped their price target 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. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research note on Tuesday, March 4th. Finally, Bank of America cut their target price on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sealed Air currently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Insider Activity at Sealed Air

In other news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company's stock.

Sealed Air Price Performance

Shares of SEE stock traded up $0.06 during trading hours on Wednesday, hitting $26.79. 1,468,159 shares of the company's stock were exchanged, compared to its average volume of 1,535,659. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The firm has a market cap of $3.91 billion, a P/E ratio of 9.85 and a beta of 1.35. 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 firm has a 50 day moving average of $29.30 and a two-hundred day moving average of $33.18.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts forecast 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air's dividend payout ratio is currently 44.20%.

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.