165,172 Shares in Sealed Air Co. (NYSE:SEE) Purchased by QSM Asset Management Ltd

QSM Asset Management Ltd bought a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 165,172 shares of the industrial products company's stock, valued at approximately $5,565,000. Sealed Air accounts for approximately 4.8% of QSM Asset Management Ltd's portfolio, making the stock its 16th largest holding. QSM Asset Management Ltd owned approximately 0.11% of Sealed Air at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sealed Air in the 4th quarter valued at $27,000. Manchester Capital Management LLC boosted its position in Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock worth $41,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sealed Air during the 4th quarter worth about $45,000. Smartleaf Asset Management LLC boosted its position in Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after acquiring an additional 913 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after acquiring an additional 712 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Performance

Shares of NYSE:SEE traded down $0.24 during trading on Friday, hitting $32.20. 1,396,108 shares of the stock were exchanged, compared to its average volume of 1,563,229. Sealed Air Co. has a 1-year low of $22.78 and a 1-year high of $41.14. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 11.84 and a beta of 1.35. The company's fifty day simple moving average is $28.79 and its 200-day simple moving average is $32.18. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

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, topping the consensus estimate of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm earned $0.78 EPS. Sealed Air's revenue for the quarter was down 4.4% compared to the same quarter last year. Sell-side analysts expect that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, June 13th. Sealed Air's dividend payout ratio is 39.60%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SEE. Mizuho cut their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Raymond James cut their price target on 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. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research note on Tuesday, March 4th. Truist Financial cut their price objective 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. Finally, Wells Fargo & Company raised their price objective on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. 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 stock. According to data from MarketBeat, Sealed Air currently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, the director now owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.

Sealed Air 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.