Turtle Creek Asset Management Inc. Sells 135,700 Shares of Sealed Air Co. (NYSE:SEE)

Turtle Creek Asset Management Inc. reduced its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 76.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Several other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Sealed Air in the fourth quarter worth about $27,000. Manchester Capital Management LLC lifted 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 worth $41,000 after buying an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sealed Air in the 4th quarter worth approximately $45,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 valued at $51,000 after acquiring an additional 913 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in 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 worth $51,000 after acquiring an additional 712 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a report on Tuesday, March 4th. Mizuho cut their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company lifted their price target on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. UBS Group upgraded 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. Finally, Truist Financial cut their price target on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Sealed Air Price Performance

Shares of SEE stock traded down $0.39 on Friday, hitting $31.86. 364,152 shares of the stock traded hands, compared to its average volume of 1,556,516. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 52 week low of $22.78 and a 52 week high of $41.14. The firm has a 50 day simple moving average of $28.46 and a two-hundred day simple moving average of $32.34. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 11.71 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly 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. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. As a group, equities research analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.