Stevens Capital Management LP Sells 13,544 Shares of Sealed Air Co. (NYSE:SEE)

Stevens Capital Management LP lowered its position in Sealed Air Co. (NYSE:SEE) by 63.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,800 shares of the industrial products company’s stock after selling 13,544 shares during the period. Stevens Capital Management LP’s holdings in Sealed Air were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SEE. Dark Forest Capital Management LP acquired a new position in shares of Sealed Air during the third quarter worth approximately $895,000. Louisiana State Employees Retirement System acquired a new stake in shares of Sealed Air in the 4th quarter valued at $2,965,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Sealed Air by 66.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock valued at $8,218,000 after buying an additional 99,700 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Sealed Air by 45.7% during the third quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock valued at $17,348,000 after acquiring an additional 165,694 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Sealed Air by 0.5% during the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after acquiring an additional 92,114 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Up 1.2 %

Shares of NYSE:SEE traded up $0.38 during midday trading on Friday, reaching $31.74. 1,227,010 shares of the company were exchanged, compared to its average volume of 1,568,514. The firm has a market cap of $4.62 billion, a PE ratio of 13.51, a P/E/G ratio of 3.48 and a beta of 1.28. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $48.44. The stock has a fifty day simple moving average of $34.73 and a two-hundred day simple moving average of $34.27.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share. As a group, sell-side analysts forecast that Sealed Air Co. will post 2.8 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 7th. Sealed Air’s payout ratio is 33.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SEE shares. Wolfe Research assumed coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Truist Financial raised Sealed Air from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $44.00 in a research note on Monday, April 8th. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Finally, Mizuho lowered their price target on Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $44.18.

Sealed Air 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.