Sealed Air Co. (NYSE:SEE) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in Sealed Air Co. (NYSE:SEE) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,190 shares of the industrial products company’s stock after selling 1,265 shares during the period. Wedge Capital Management L L P NC owned approximately 0.12% of Sealed Air worth $6,252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CVA Family Office LLC acquired a new position in Sealed Air during the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC acquired a new position in Sealed Air during the fourth quarter worth about $29,000. Column Capital Advisors LLC raised its position in Sealed Air by 57.9% during the third quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 385 shares during the last quarter. Signaturefd LLC raised its position in Sealed Air by 80.3% during the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 476 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Sealed Air by 81.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 449 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

SEE has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $35.00 to $43.00 in a research report on Thursday, January 11th. Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $44.00 in a research report on Monday, April 8th. Mizuho cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Wolfe Research initiated coverage on shares of Sealed Air in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sealed Air currently has an average rating of “Hold” and an average target price of $44.18.

Sealed Air Stock Down 0.5 %

Shares of NYSE:SEE opened at $31.49 on Wednesday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $48.44. The company’s fifty day moving average is $34.91 and its two-hundred day moving average is $34.31. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30.

Sealed Air (NYSE:SEE) last issued its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.26. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. Equities analysts anticipate that Sealed Air Co. will post 2.83 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.54%. Sealed Air’s dividend payout ratio is presently 33.90%.

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.