KLP Kapitalforvaltning AS Takes Position in Sealed Air Co. (NYSE:SEE)

KLP Kapitalforvaltning AS purchased a new position in Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,300 shares of the industrial products company's stock, valued at approximately $1,025,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of 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 worth $68,182,000 after purchasing an additional 920,000 shares during the last quarter. Swedbank AB lifted its holdings in Sealed Air by 57.3% during the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock worth $78,678,000 after buying an additional 846,882 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Sealed Air by 501.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company's stock worth $28,853,000 after acquiring an additional 662,606 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in shares of 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 valued at $55,085,000 after acquiring an additional 548,493 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new stake in shares of Sealed Air during the 4th quarter worth about $18,210,000. Institutional investors and hedge funds own 94.40% of the company's stock.

Remove Ads

Sealed Air Stock Performance

Shares of NYSE SEE traded down $1.99 during mid-day trading on Thursday, hitting $27.09. 3,524,220 shares of the company were exchanged, compared to its average volume of 1,492,306. 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 market cap of $3.95 billion, a price-to-earnings ratio of 9.96 and a beta of 1.32. The stock has a 50 day simple moving average of $32.11 and a 200-day simple moving average of $34.24. Sealed Air Co. has a 1-year low of $27.04 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last released its 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. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business's revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 EPS. On average, sell-side analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial increased their price target 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. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research report on Tuesday, March 4th. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Bank of America dropped their price target 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. Finally, UBS Group boosted their price objective on Sealed Air from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.25.

Insider Activity

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price 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 of the company's stock, valued at $1,050,000. The trade was a 3.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.