Recurrent Investment Advisors LLC Raises Stake in Sealed Air Co. (NYSE:SEE)

Recurrent Investment Advisors LLC boosted its stake in shares of Sealed Air Co. (NYSE:SEE) by 219.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,226 shares of the industrial products company’s stock after buying an additional 41,364 shares during the quarter. Recurrent Investment Advisors LLC’s holdings in Sealed Air were worth $2,037,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in 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 valued at $1,430,000 after purchasing an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of 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 worth $1,470,000 after buying an additional 350 shares during the last quarter. Choreo LLC increased its holdings in shares of Sealed Air by 3.7% in 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 during the last quarter. Metis Global Partners LLC raised its position 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 valued at $306,000 after buying an additional 375 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Sealed Air by 3.3% during the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Up 1.6%

Shares of SEE opened at $32.42 on Thursday. Sealed Air Co. has a 1-year low of $22.78 and a 1-year 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 firm’s 50-day moving average price is $28.21 and its 200-day moving average price is $32.51. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.92 and a beta of 1.35.

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

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio is currently 39.60%.

Insider Activity

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 stock was bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SEE. Mizuho reduced their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Raymond James reduced their price objective on Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 22nd. 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 report on Monday, April 7th. Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company lifted their price target on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Four equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.