Renaissance Technologies LLC Has $4.83 Million Holdings in Sealed Air Co. (NYSE:SEE)

Renaissance Technologies LLC lessened its stake in Sealed Air Co. (NYSE:SEE - Free Report) by 73.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,900 shares of the industrial products company's stock after selling 399,700 shares during the period. Renaissance Technologies LLC owned 0.10% of Sealed Air worth $4,834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in shares of Sealed Air by 139.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sealed Air during the 4th quarter worth about $45,000. GAMMA Investing LLC lifted its stake in Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after buying an additional 907 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after buying an additional 712 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after acquiring an additional 913 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

Shares of SEE stock traded down $0.24 during trading on Friday, reaching $27.54. The company had a trading volume of 1,013,545 shares, compared to its average volume of 1,537,614. The firm's 50 day simple moving average is $29.17 and its two-hundred day simple moving average is $33.13. Sealed Air Co. has a one year low of $22.78 and a one year 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 company has a market capitalization of $4.01 billion, a PE ratio of 10.12 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business 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 company earned $0.88 earnings per share. Sealed Air'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 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. Sealed Air's dividend payout ratio is 44.20%.

Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the transaction, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho decreased their price objective on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Truist Financial decreased their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company 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 report on Monday, January 6th. Finally, Citigroup lowered 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 report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.00.

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.