Corient Private Wealth LLC Reduces Holdings in Sealed Air Co. (NYSE:SEE)

Corient Private Wealth LLC reduced its stake in Sealed Air Co. (NYSE:SEE) by 47.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,809 shares of the industrial products company’s stock after selling 15,000 shares during the period. Corient Private Wealth LLC’s holdings in Sealed Air were worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after buying an additional 311 shares during the period. Arizona State Retirement System grew its holdings in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock worth $1,430,000 after acquiring an additional 348 shares during the last quarter. Choreo LLC increased its position in shares of Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 351 shares during the period. Metis Global Partners LLC raised its stake in shares of Sealed Air by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 375 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Sealed Air by 3.3% during the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

SEE stock opened at $29.02 on Friday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The firm has a 50 day moving average price of $32.64 and a 200-day moving average price of $34.37. Sealed Air Co. has a 52-week low of $28.67 and a 52-week high of $41.14. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 10.67 and a beta of 1.32.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company 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 2.76%. Sealed Air’s dividend payout ratio is currently 44.20%.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SEE shares. UBS Group upped their price target on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Truist Financial upped their target price on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. Bank of America cut their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Citigroup cut their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.25.

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.