Invenomic Capital Management LP Has $2.03 Million Stock Holdings in Sealed Air Co. (NYSE:SEE)

Invenomic Capital Management LP cut its position in shares of Sealed Air Co. (NYSE:SEE) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,953 shares of the industrial products company’s stock after selling 9,444 shares during the period. Invenomic Capital Management LP’s holdings in Sealed Air were worth $2,028,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Graham Capital Management L.P. increased its stake in shares of Sealed Air by 97.6% during the 4th quarter. Graham Capital Management L.P. now owns 49,440 shares of the industrial products company’s stock worth $1,673,000 after purchasing an additional 24,414 shares during the last quarter. Focus Partners Wealth increased its stake in shares of Sealed Air by 18.6% during the 4th quarter. Focus Partners Wealth now owns 24,669 shares of the industrial products company’s stock worth $835,000 after purchasing an additional 3,869 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Sealed Air by 1.2% during the 4th quarter. Deutsche Bank AG now owns 84,181 shares of the industrial products company’s stock worth $2,848,000 after purchasing an additional 1,034 shares during the last quarter. Caption Management LLC acquired a new position in shares of Sealed Air during the 4th quarter worth about $507,000. Finally, Castlekeep Investment Advisors LLC acquired a new position in shares of Sealed Air during the 4th quarter worth about $372,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Price Performance

SEE stock opened at $30.59 on Monday. Sealed Air Co. has a 52-week low of $22.78 and a 52-week high of $41.14. The company has a fifty day moving average price of $28.19 and a 200-day moving average price of $32.54. The company has a market capitalization of $4.50 billion, a P/E ratio of 11.25 and a beta of 1.35. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. Sealed Air’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio is presently 39.60%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research note on Tuesday, March 4th. Raymond James decreased their price target on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 22nd. Truist Financial decreased their price target on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group upgraded shares of 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. Four research 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. Based on data from MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Buying and Selling

In related news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air 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 of the company’s stock, valued at $1,050,000. This trade represents a 3.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

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.