Proficio Capital Partners LLC Purchases New Stake in Sealed Air Co. (NYSE:SEE)

Proficio Capital Partners LLC purchased a new stake in Sealed Air Co. (NYSE:SEE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,180 shares of the industrial products company’s stock, valued at approximately $717,000.

Several other hedge funds have also recently bought and sold shares of SEE. Commerce Bank raised its holdings in Sealed Air by 67.6% in the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 14,766 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sealed Air by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after buying an additional 502,999 shares during the period. Raymond James Trust N.A. raised its holdings in Sealed Air by 3.4% in the third quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock valued at $509,000 after buying an additional 466 shares during the period. Cerity Partners LLC raised its holdings in Sealed Air by 49.2% in the third quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company’s stock valued at $771,000 after buying an additional 7,003 shares during the period. Finally, Swedbank AB purchased a new position in Sealed Air in the third quarter valued at approximately $53,681,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

SEE has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Mizuho dropped their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley dropped their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Bank of America dropped their price objective 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. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

Sealed Air Stock Down 1.6 %

SEE stock opened at $29.08 on Friday. Sealed Air Co. has a twelve month low of $28.67 and a twelve month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $4.24 billion, a P/E ratio of 10.69 and a beta of 1.32. The firm has a 50 day simple moving average of $33.13 and a 200-day simple moving average of $34.53.

Sealed Air (NYSE:SEE) last released its quarterly earnings results 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. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s dividend payout ratio is presently 44.20%.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $30.00 per share, with a total value of $33,600.00. Following the completion of the acquisition, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The purchase 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.

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.