Bayesian Capital Management LP Sells 8,417 Shares of Sealed Air Co. (NYSE:SEE)

Bayesian Capital Management LP reduced its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,200 shares of the industrial products company's stock after selling 8,417 shares during the quarter. Bayesian Capital Management LP's holdings in Sealed Air were worth $210,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its stake in Sealed Air by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after buying an additional 913 shares in the last quarter. A&I Financial Services LLC bought a new position in Sealed Air in the fourth quarter valued at approximately $527,000. Kwmg LLC raised its position in Sealed Air by 5.0% during the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company's stock valued at $4,619,000 after purchasing an additional 6,527 shares in the last quarter. Amundi raised its holdings in shares of Sealed Air by 131.6% during the 4th quarter. Amundi now owns 76,479 shares of the industrial products company's stock worth $2,576,000 after buying an additional 43,458 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after buying an additional 715,668 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Insider Buying and Selling

In related news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Sealed Air Trading Down 0.5 %

SEE traded down $0.14 during trading on Friday, hitting $30.59. The company's stock had a trading volume of 1,671,494 shares, compared to its average volume of 1,544,736. 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 firm has a market capitalization of $4.49 billion, a P/E ratio of 11.25 and a beta of 1.35. The stock's fifty day moving average price is $28.19 and its 200-day moving average price is $32.54. Sealed Air Co. has a twelve month low of $22.78 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, March 14th. Sealed Air's payout ratio is presently 44.20%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their target price on shares of Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. 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. Truist Financial reduced their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Raymond James dropped their target price on 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. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

About Sealed Air

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.