Sealed Air Co. (NYSE:SEE) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 73.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,900 shares of the industrial products company's stock after selling 399,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Sealed Air worth $4,834,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SEE. Manchester Capital Management LLC lifted its stake in Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock worth $41,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Sealed Air during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC raised its stake in 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 buying an additional 907 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 712 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Sealed Air by 148.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 913 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Price Performance

NYSE:SEE traded down $0.16 during trading hours on Friday, reaching $27.62. 1,928,272 shares of the company were exchanged, compared to its average volume of 1,542,073. The stock's 50-day moving average is $29.05 and its 200-day moving average is $33.08. Sealed Air Co. has a twelve month low of $22.78 and a twelve month high of $41.14. The firm has a market cap of $4.03 billion, a PE ratio of 10.15 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 (NYSE:SEE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors 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 annualized dividend and a yield of 2.90%. Sealed Air's dividend payout ratio is presently 44.20%.

Analysts Set New Price Targets

SEE has been the topic of several analyst reports. Citigroup cut their target price on Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Raymond James cut 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 report on Tuesday. Bank of America lowered their price objective on Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, UBS Group upgraded shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Insiders Place Their Bets

In related news, Director Henry R. Keizer acquired 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 transaction, the director now owns 35,000 shares in the company, valued at $1,050,000. This represents a 3.31 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company's stock.

About Sealed Air

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.