Freestone Grove Partners LP Takes $388,000 Position in Sealed Air Co. (NYSE:SEE)

Freestone Grove Partners LP purchased a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,478 shares of the industrial products company's stock, valued at approximately $388,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Sealed Air by 148.0% in the fourth 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 in the last quarter. A&I Financial Services LLC purchased a new position in shares of Sealed Air during the 4th quarter valued at approximately $527,000. Kwmg LLC grew its position in shares of Sealed Air by 5.0% during the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company's stock worth $4,619,000 after buying an additional 6,527 shares in the last quarter. Amundi increased its stake in shares of Sealed Air by 131.6% in the fourth quarter. Amundi now owns 76,479 shares of the industrial products company's stock worth $2,576,000 after buying an additional 43,458 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock valued at $51,101,000 after acquiring an additional 715,668 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Price Performance

Shares of NYSE:SEE opened at $28.01 on Monday. The firm's 50 day moving average is $28.53 and its two-hundred day moving average is $32.78. The firm has a market capitalization of $4.12 billion, a P/E ratio of 10.30 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.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. Analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.86%. Sealed Air's payout ratio is 44.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SEE shares. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Bank of America reduced their target price on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company boosted their price target on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Morgan Stanley reduced their price objective on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sealed Air has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Insiders Place Their Bets

In related news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.30% of the stock is owned by insiders.

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.

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