Luminus Management LLC Has $406,000 Stake in Sealed Air Co. (NYSE:SEE)

Luminus Management LLC reduced its position in Sealed Air Co. (NYSE:SEE - Free Report) by 94.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the industrial products company's stock after selling 219,562 shares during the period. Sealed Air comprises about 0.5% of Luminus Management LLC's holdings, making the stock its 14th largest position. Luminus Management LLC's holdings in Sealed Air were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SEE. Vanguard Group Inc. increased its position in Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after purchasing an additional 2,754,395 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after acquiring an additional 1,549,184 shares during the last quarter. Norges Bank acquired a new position in shares of Sealed Air during the 4th quarter valued at about $50,562,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 valued at $416,657,000 after acquiring an additional 1,081,848 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 920,000 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Trading Up 1.9%

Shares of NYSE:SEE traded up $0.60 during midday trading on Friday, hitting $32.35. The company had a trading volume of 1,667,198 shares, compared to its average volume of 1,556,845. Sealed Air Co. has a 12 month low of $22.78 and a 12 month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 11.89 and a beta of 1.35. The firm has a fifty day simple moving average of $28.28 and a 200 day simple moving average of $32.45.

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

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.47%. Sealed Air's dividend payout ratio (DPR) is 39.60%.

Wall Street Analyst Weigh In

SEE has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price for the company in a research note on Monday, April 7th. Wells Fargo & Company increased their target price on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $38.00.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction on 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 completion of the transaction, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company's stock.

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.