Atlas FRM LLC Sells 140,000 Shares of Sealed Air Co. (NYSE:SEE)

Atlas FRM LLC reduced its stake in Sealed Air Co. (NYSE:SEE - Free Report) by 15.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 760,000 shares of the industrial products company's stock after selling 140,000 shares during the quarter. Sealed Air accounts for approximately 2.4% of Atlas FRM LLC's portfolio, making the stock its 6th largest holding. Atlas FRM LLC owned 0.52% of Sealed Air worth $25,711,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SEE. Arizona State Retirement System grew its stake in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock worth $1,430,000 after buying an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in Sealed Air by 0.8% during the 4th 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 last quarter. Choreo LLC boosted its position in Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock valued at $331,000 after buying an additional 351 shares during the period. Metis Global Partners LLC raised its stake in shares of Sealed Air by 4.3% during the fourth 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 last quarter. Finally, Truist Financial Corp grew its stake in shares of Sealed Air by 3.3% in the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock worth $399,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Trading Up 2.6 %

SEE traded up $0.70 on Friday, hitting $28.01. The company had a trading volume of 1,577,173 shares, compared to its average volume of 1,522,387. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The company has a market cap of $4.12 billion, a PE ratio of 10.30 and a beta of 1.35. The business's fifty day simple moving average is $28.65 and its 200 day simple moving average is $32.88.

Sealed Air (NYSE:SEE - Get Free Report) last posted its 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 company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. Sealed Air's revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio (DPR) is presently 44.20%.

Insider Buying and Selling

In related news, Director Henry R. Keizer bought 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company's stock, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on 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. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price for the company in a research note on Monday, April 7th. Mizuho lowered their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Bank of America decreased their price objective on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Raymond James cut their target price on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

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.