Luminus Management LLC Sells 219,562 Shares of Sealed Air Co. (NYSE:SEE)

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

A number of other large investors have also recently bought and sold shares of SEE. Arizona State Retirement System lifted its position in shares of Sealed Air by 0.8% in the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock worth $1,430,000 after purchasing an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in Sealed Air by 0.8% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after buying an additional 350 shares during the last quarter. Choreo LLC lifted its position in Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock worth $331,000 after buying an additional 351 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock worth $306,000 after buying an additional 375 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Sealed Air by 3.3% in the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock valued at $399,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Stock Performance

Shares of NYSE SEE traded down $0.65 during trading hours on Thursday, reaching $31.80. 2,788,953 shares of the stock were exchanged, compared to its average volume of 1,554,936. The stock's fifty day simple moving average is $28.21 and its 200 day simple moving average is $32.51. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.69 and a beta of 1.35. Sealed Air Co. has a 52 week low of $22.78 and a 52 week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

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

Sealed Air Dividend Announcement

The business also recently disclosed 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 was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. Sealed Air's dividend payout ratio (DPR) is presently 39.60%.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

SEE has been the topic of several analyst reports. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group set a $36.00 price objective on Sealed Air in a report on Tuesday, March 4th. Mizuho decreased their target price on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company increased their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their price objective on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sealed Air has an average rating of "Moderate Buy" and a consensus target price of $38.00.

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.