Sealed Air Co. (NYSE:SEE) Position Trimmed by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,953 shares of the industrial products company's stock after selling 9,444 shares during the period. Invenomic Capital Management LP's holdings in Sealed Air were worth $2,028,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC boosted its stake in shares of Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock worth $41,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock worth $45,000 after acquiring an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sealed Air in the fourth quarter worth approximately $45,000. Smartleaf Asset Management LLC boosted its position 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 during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of 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 last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Down 2.0%

Shares of SEE traded down $0.65 during mid-day trading on Thursday, reaching $31.80. 2,788,953 shares of the stock traded hands, compared to its average volume of 1,554,936. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 11.69 and a beta of 1.35. The stock has a fifty day simple moving average of $28.21 and a 200 day simple moving average of $32.51. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts expect that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Sealed Air's dividend payout ratio is currently 39.60%.

Insider Activity

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of the stock in a transaction 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 completion of 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 accessible through this hyperlink. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

SEE has been the topic of several research analyst reports. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research report on Tuesday, March 4th. Wells Fargo & Company raised their target price on shares of Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. UBS Group raised shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a research report on Monday, April 7th. Finally, Raymond James reduced their price target on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 22nd. Four equities research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.