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 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in shares of Sealed Air in the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new position in shares of Sealed Air in the fourth quarter valued at $29,000. Column Capital Advisors LLC boosted its stake in Sealed Air by 57.9% in the 3rd quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 385 shares during the period. Signaturefd LLC lifted its stake in Sealed Air by 80.3% in the 3rd quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 476 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Sealed Air by 81.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock valued at $36,000 after buying an additional 449 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Price Performance

Sealed Air stock traded up $0.38 during mid-day trading on Friday, hitting $31.74. The stock had a trading volume of 1,227,010 shares, compared to its average volume of 1,568,514. The firm has a market capitalization of $4.62 billion, a P/E ratio of 13.51, a P/E/G ratio of 3.48 and a beta of 1.28. The firm’s 50 day moving average is $34.73 and its 200 day moving average is $34.27. Sealed Air Co. has a one year low of $28.50 and a one year high of $48.44. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 8.21.

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

Sealed Air Dividend Announcement

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

Analysts Set New Price Targets

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

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.