Cresset Asset Management LLC Reduces Stock Position in Sealed Air Co. (NYSE:SEE)

Cresset Asset Management LLC lessened its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,038 shares of the industrial products company's stock after selling 11,285 shares during the quarter. Cresset Asset Management LLC's holdings in Sealed Air were worth $1,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SEE. Vanguard Group Inc. raised its stake in shares of Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after acquiring an additional 2,754,395 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Sealed Air by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after purchasing an additional 1,081,848 shares during the period. Invesco Ltd. lifted its position in shares of Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after purchasing an additional 1,549,184 shares during the period. Swedbank AB raised its stake in Sealed Air by 57.3% in the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock worth $78,678,000 after buying an additional 846,882 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Sealed Air by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock worth $74,583,000 after buying an additional 178,592 shares during the period. Institutional investors own 94.40% of the company's stock.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, 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 available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. 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. Raymond James reduced their price objective on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 22nd. UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a report on Monday, April 7th. Wells Fargo & Company upped their target price 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. Finally, Truist Financial lowered their price objective on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sealed Air has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Sealed Air Price Performance

SEE traded down $0.65 on Thursday, hitting $31.80. 2,788,953 shares of the company's stock traded hands, compared to its average volume of 1,554,936. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The company's 50 day simple moving average is $28.21 and its 200-day simple moving average is $32.51. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 11.69 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, research 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. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. Sealed Air's dividend payout ratio (DPR) is 39.60%.

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.