Freestone Grove Partners LP Purchases Shares of 11,478 Sealed Air Co. (NYSE:SEE)

Freestone Grove Partners LP bought a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,478 shares of the industrial products company's stock, valued at approximately $388,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SEE. Vanguard Group Inc. grew its stake in Sealed Air by 17.7% in 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 purchasing an additional 2,754,395 shares during the last quarter. Invesco Ltd. increased its position in shares of Sealed Air by 69.2% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in shares of Sealed Air during the 4th quarter valued at $50,562,000. T. Rowe Price Investment Management Inc. grew its stake 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 worth $416,657,000 after buying an additional 1,081,848 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock valued at $68,182,000 after buying an additional 920,000 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Insiders Place Their Bets

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

Sealed Air Price Performance

NYSE SEE traded down $0.14 during trading hours on Friday, hitting $30.59. 1,671,494 shares of the company's stock traded hands, compared to its average volume of 1,544,736. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm's 50-day moving average is $28.19 and its 200-day moving average is $32.57. Sealed Air Co. has a 52-week low of $22.78 and a 52-week high of $41.14. The company has a market capitalization of $4.49 billion, a PE ratio of 11.25 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 the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during 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 revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. Equities analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, March 14th. Sealed Air's payout ratio is currently 44.20%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial decreased their price objective on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Raymond James decreased 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. 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sealed Air currently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

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.