Trexquant Investment LP Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Trexquant Investment LP trimmed its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 54.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,716 shares of the industrial products company's stock after selling 82,177 shares during the quarter. Trexquant Investment LP's holdings in Sealed Air were worth $2,358,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after buying an additional 2,754,395 shares during the period. Norges Bank purchased a new position in Sealed Air during the fourth quarter valued at approximately $50,562,000. Victory Capital Management Inc. increased its holdings in 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 acquiring an additional 920,000 shares during the period. Swedbank AB lifted its stake in Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock worth $78,678,000 after purchasing an additional 846,882 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Sealed Air by 90.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after purchasing an additional 715,668 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

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Sealed Air Trading Up 2.8 %

Shares of SEE traded up $0.70 during trading hours on Friday, hitting $25.96. The company had a trading volume of 1,924,683 shares, compared to its average volume of 1,533,165. Sealed Air Co. has a 52-week low of $22.78 and a 52-week 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. The stock's 50 day moving average price is $30.54 and its 200 day moving average price is $33.69. The firm has a market cap of $3.78 billion, a P/E ratio of 9.54 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air's revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. On average, research analysts predict that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.08%. Sealed Air's payout ratio is currently 44.20%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Bank of America lowered their price target on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Truist Financial boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, January 6th. UBS Group raised shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price on the stock in a research note on Monday, April 7th. Finally, Morgan Stanley cut their price target on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sealed Air currently has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

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.