Envestnet Asset Management Inc. Sells 38,616 Shares of Sealed Air Co. (NYSE:SEE)

Envestnet Asset Management Inc. decreased its position in Sealed Air Co. (NYSE:SEE) by 7.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 497,031 shares of the industrial products company’s stock after selling 38,616 shares during the quarter. Envestnet Asset Management Inc. owned 0.34% of Sealed Air worth $16,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEE. Manchester Capital Management LLC raised its holdings in shares of Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after buying an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sealed Air in the fourth quarter worth about $45,000. GAMMA Investing LLC lifted its position in shares of Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 907 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Sealed Air by 89.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 712 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings 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 valued at $51,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Performance

Sealed Air stock opened at $26.15 on Wednesday. The stock has a market cap of $3.81 billion, a P/E ratio of 9.61 and a beta of 1.35. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The firm’s fifty day moving average price is $30.21 and its 200-day moving average price is $33.55.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SEE. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their target price on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Mizuho decreased their target price 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. Bank of America decreased their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial increased their target price on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Five investment 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. Based on data from MarketBeat, Sealed Air has a consensus rating of “Moderate Buy” and an average target price of $39.42.

Insider Buying and Selling at Sealed Air

In other news, Director Henry R. Keizer purchased 1,120 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

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.