8,153 Shares in Sealed Air Co. (NYSE:SEE) Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. purchased a new position in Sealed Air Co. (NYSE:SEE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,153 shares of the industrial products company’s stock, valued at approximately $276,000.

Other hedge funds also recently modified their holdings of the company. Manchester Capital Management LLC increased its position in shares of Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air in the fourth quarter valued at about $45,000. GAMMA Investing LLC grew its position in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 907 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 712 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 913 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SEE shares. Mizuho decreased their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley decreased their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research report on Tuesday, March 4th. Bank of America decreased their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group raised Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Sealed Air Price Performance

Sealed Air stock opened at $27.74 on Tuesday. The stock’s 50 day moving average is $28.94 and its 200 day moving average is $33.01. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market cap of $4.08 billion, a P/E ratio of 10.20 and a beta of 1.35. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14.

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

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. Sealed Air’s 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 stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Sealed Air Company 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.