BNP Paribas Financial Markets Trims Position in Sealed Air Co. (NYSE:SEE)

BNP Paribas Financial Markets lessened its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 87.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,524 shares of the industrial products company's stock after selling 489,053 shares during the quarter. BNP Paribas Financial Markets' holdings in Sealed Air were worth $2,453,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC boosted its holdings in Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sealed Air during the 4th quarter worth approximately $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sealed Air by 148.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after buying an additional 913 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after buying an additional 712 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Sealed Air by 98.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company's stock worth $53,000 after acquiring an additional 778 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Price Performance

Shares of SEE traded down $0.05 during mid-day trading on Thursday, reaching $31.71. 170,693 shares of the company's stock were exchanged, compared to its average volume of 1,556,090. 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 52-week low of $22.78 and a 52-week high of $41.14. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 11.66 and a beta of 1.35. The company has a 50-day simple moving average of $28.42 and a two-hundred day simple moving average of $32.36.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Sealed Air's quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SEE has been the topic of several research analyst reports. Raymond James decreased their target price on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 22nd. UBS Group raised shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a report on Monday, April 7th. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research report on Tuesday, March 4th. Finally, Truist Financial decreased their price target on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Activity at Sealed Air

In other news, Director Henry R. Keizer purchased 1,120 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This trade represents a 3.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

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.