Sei Investments Co. Buys 98,243 Shares of Sealed Air Co. (NYSE:SEE)

Sei Investments Co. increased its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 40.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 341,650 shares of the industrial products company's stock after purchasing an additional 98,243 shares during the period. Sei Investments Co. owned approximately 0.23% of Sealed Air worth $11,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Quarry LP raised its stake in Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company's stock valued at $134,000 after buying an additional 311 shares during the last quarter. Arizona State Retirement System increased its position in Sealed Air by 0.8% during the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock valued at $1,430,000 after acquiring an additional 348 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in Sealed Air by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after buying an additional 350 shares during the period. Choreo LLC boosted its stake in shares of Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock worth $331,000 after acquiring an additional 351 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock valued at $306,000 after acquiring an additional 375 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Mizuho lowered their price objective on Sealed Air from $45.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Bank of America lowered their price target on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, UBS Group increased their price objective on shares of Sealed Air from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Sealed Air Price Performance

Shares of SEE stock traded down $1.99 during trading hours on Thursday, hitting $27.09. The stock had a trading volume of 3,524,220 shares, compared to its average volume of 1,492,306. 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 stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.96 and a beta of 1.32. Sealed Air Co. has a one year low of $27.04 and a one year high of $41.14. The stock's 50-day moving average price is $32.11 and its two-hundred day moving average price is $34.24.

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 (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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company's revenue for the quarter was down .4% on a year-over-year basis. Equities analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

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

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was bought 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 directly owns 35,000 shares in the company, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by insiders.

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.