Sealed Air Co. (NYSE:SEE) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its stake in shares of Sealed Air Co. (NYSE:SEE) by 22.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,038 shares of the industrial products company’s stock after selling 11,285 shares during the quarter. Cresset Asset Management LLC’s holdings in Sealed Air were worth $1,287,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Manchester Capital Management LLC increased its position in shares of 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 in the last quarter. GAMMA Investing LLC increased 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sealed Air in the fourth quarter worth $45,000. Smartleaf Asset Management LLC increased 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 in the last quarter. Finally, Brown Brothers Harriman & Co. increased 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 in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Price Performance

Shares of SEE stock opened at $30.59 on Monday. The firm has a market cap of $4.50 billion, a P/E ratio of 11.25 and a beta of 1.35. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $22.78 and a 1-year high of $41.14. The firm has a fifty day moving average of $28.19 and a two-hundred day moving average of $32.54.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data 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 company had revenue of $1.27 billion during 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 firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, research analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio is currently 39.60%.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SEE. Raymond James dropped their price objective on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 22nd. Truist Financial dropped 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. UBS Group upgraded shares of 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. 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. Finally, StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.