Tang Capital Management LLC Takes Position in Sealed Air Co. (NYSE:SEE)

Tang Capital Management LLC bought a new stake in Sealed Air Co. (NYSE:SEE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,132 shares of the industrial products company's stock, valued at approximately $952,000.

A number of other institutional investors have also modified their holdings of SEE. Recurrent Investment Advisors LLC increased its stake in shares of Sealed Air by 219.3% during the fourth quarter. Recurrent Investment Advisors LLC now owns 60,226 shares of the industrial products company's stock worth $2,037,000 after acquiring an additional 41,364 shares during the period. Quantinno Capital Management LP boosted its holdings in Sealed Air by 357.5% in the 4th quarter. Quantinno Capital Management LP now owns 101,618 shares of the industrial products company's stock valued at $3,438,000 after purchasing an additional 79,406 shares in the last quarter. Man Group plc increased its position in Sealed Air by 0.8% during the 4th quarter. Man Group plc now owns 342,495 shares of the industrial products company's stock worth $11,587,000 after purchasing an additional 2,763 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sealed Air in the fourth quarter worth $27,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Sealed Air by 262.7% in the fourth quarter. Lazard Asset Management LLC now owns 270,993 shares of the industrial products company's stock valued at $9,167,000 after purchasing an additional 196,286 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SEE shares. Wells Fargo & Company raised 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. Mizuho dropped their target price on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Truist Financial reduced 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. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sealed Air presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Sealed Air Trading Down 1.4%

Shares of Sealed Air stock traded down $0.44 during trading hours on Friday, reaching $31.81. 318,488 shares of the company's stock were exchanged, compared to its average volume of 1,754,500. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.70 and a beta of 1.35. 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 52-week low of $22.78 and a 52-week high of $41.14. The company has a fifty day moving average of $28.46 and a 200-day moving average of $32.34.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results 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. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Sell-side analysts forecast that Sealed Air Co. will post 3.05 EPS 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 that occurred on Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction 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. The trade was a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company's stock.

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.