Turtle Creek Asset Management Inc. Cuts Stock Holdings in Sealed Air Co. (NYSE:SEE)

Turtle Creek Asset Management Inc. lowered its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 76.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 42,040 shares of the industrial products company's stock after selling 135,700 shares during the quarter. Turtle Creek Asset Management Inc.'s holdings in Sealed Air were worth $1,422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted 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. A&I Financial Services LLC acquired a new stake in Sealed Air during the 4th quarter worth about $527,000. Amundi lifted its position in 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 acquiring an additional 43,458 shares during the period. JPMorgan Chase & Co. lifted its position in Sealed Air by 90.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after acquiring an additional 715,668 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Sealed Air by 13.8% during the 4th quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company's stock worth $2,687,000 after acquiring an additional 9,634 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Price Performance

Shares of Sealed Air stock traded down $0.55 on Wednesday, hitting $31.77. The company's stock had a trading volume of 1,395,307 shares, compared to its average volume of 1,561,485. 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 Co. has a 1 year low of $22.78 and a 1 year high of $41.14. The firm has a fifty day moving average price of $28.38 and a 200-day moving average price of $32.37. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.68 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business earned $0.78 EPS. Sealed Air's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SEE. Raymond James lowered their price target 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. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research report on Tuesday, March 4th. UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a report on Monday, April 7th. Truist Financial decreased their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho decreased their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. 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 company's stock. According to MarketBeat.com, the company currently has an average 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.