Peak6 LLC Makes New Investment in Sealed Air Co. (NYSE:SEE)

PEAK6 LLC bought a new position in Sealed Air Co. (NYSE:SEE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,313 shares of the industrial products company's stock, valued at approximately $349,000.

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

Sealed Air Trading Down 0.6 %

Shares of NYSE SEE traded down $0.16 during mid-day trading on Friday, hitting $27.62. 1,928,272 shares of the company traded hands, compared to its average volume of 1,540,413. The business has a 50 day moving average of $29.17 and a two-hundred day moving average of $33.13. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 10.15 and a beta of 1.35. Sealed Air Co. has a 1 year low of $22.78 and a 1 year high of $41.14. 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 (NYSE:SEE - Get Free Report) last announced 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. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the company posted $0.88 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given 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 yield of 2.90%. Sealed Air's payout ratio is presently 44.20%.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SEE. Citigroup cut their price objective on shares of 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 price target 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. Bank of America reduced their price target on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Mizuho dropped their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price for the company in a research report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

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.