Quadrature Capital Ltd Cuts Stake in Sealed Air Co. (NYSE:SEE)

Quadrature Capital Ltd reduced its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 81.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,895 shares of the industrial products company's stock after selling 30,348 shares during the quarter. Quadrature Capital Ltd's holdings in Sealed Air were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEE. Pacer Advisors Inc. bought a new stake in Sealed Air during the 3rd quarter valued at $139,800,000. Swedbank AB purchased a new position in Sealed Air during the 3rd quarter valued at $53,681,000. Millennium Management LLC increased its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company's stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Maple Rock Capital Partners Inc. increased its position in Sealed Air by 56.6% during 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 purchasing an additional 548,493 shares during the period. Finally, Appian Way Asset Management LP increased its position in Sealed Air by 68.1% during the 2nd quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company's stock valued at $46,962,000 after purchasing an additional 546,701 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Performance

Shares of NYSE:SEE traded down $0.65 during trading on Wednesday, hitting $36.19. The company's stock had a trading volume of 599,006 shares, compared to its average volume of 1,499,890. The company has a 50-day moving average of $35.95 and a 200-day moving average of $35.72. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 5.05 and a beta of 1.34.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, sell-side analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's dividend payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 17th. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Sealed Air from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th. Morgan Stanley started coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target on the stock. Finally, Raymond James upgraded shares of Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.00.

Sealed Air 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.