11,938 Shares in Sealed Air Co. (NYSE:SEE) Bought by Entropy Technologies LP

Entropy Technologies LP bought a new stake in Sealed Air Co. (NYSE:SEE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,938 shares of the industrial products company’s stock, valued at approximately $433,000.

A number of other hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Sealed Air in the 2nd quarter worth about $26,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Sealed Air during the 2nd quarter worth approximately $34,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Sealed Air during the 1st quarter worth approximately $52,000. Covestor Ltd grew its holdings in Sealed Air by 651.2% during the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after buying an additional 2,445 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Up 0.6 %

Shares of SEE opened at $35.86 on Friday. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14. The firm has a market capitalization of $5.22 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 4.93 and a beta of 1.34. 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 stock’s fifty day simple moving average is $35.48 and its 200 day simple moving average is $35.82.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $0.77 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Sealed Air Co. will post 3.07 earnings per share for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

SEE has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price objective on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Truist Financial decreased their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their target price for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.