Element Capital Management LLC Makes New Investment in Sealed Air Co. (NYSE:SEE)

Element Capital Management LLC purchased a new stake in Sealed Air Co. (NYSE:SEE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 36,341 shares of the industrial products company's stock, valued at approximately $1,327,000. Sealed Air makes up 4.5% of Element Capital Management LLC's investment portfolio, making the stock its 6th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dark Forest Capital Management LP purchased a new stake in shares of Sealed Air during the 3rd quarter worth $895,000. BNP Paribas Financial Markets grew its position in shares of Sealed Air by 158.5% in the 4th quarter. BNP Paribas Financial Markets now owns 322,620 shares of the industrial products company's stock worth $11,782,000 after buying an additional 197,799 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Sealed Air in the 4th quarter worth approximately $2,965,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Sealed Air by 66.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company's stock worth $8,218,000 after acquiring an additional 99,700 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Sealed Air by 45.7% during the third quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company's stock valued at $17,348,000 after acquiring an additional 165,694 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.23 during trading on Tuesday, reaching $38.30. The stock had a trading volume of 847,451 shares, compared to its average volume of 1,601,494. Sealed Air Co. has a 1-year low of $28.50 and a 1-year high of $47.12. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33. The business has a fifty day moving average price of $34.85 and a 200-day moving average price of $35.01. The stock has a market cap of $5.58 billion, a PE ratio of 15.29, a PEG ratio of 3.49 and a beta of 1.31.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm's revenue was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Sealed Air Co. will post 2.89 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.09%. Sealed Air's dividend payout ratio is currently 32.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Mizuho lowered their price objective on Sealed Air from $39.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 3rd. Wolfe Research started coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a "peer perform" rating on the stock. Truist Financial upgraded Sealed Air from a "hold" rating to a "buy" rating and boosted their price target for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Finally, William Blair reiterated a "market perform" rating on shares of Sealed Air in a research note on Thursday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

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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