Pictet Asset Management Holding SA Purchases 933 Shares of Sealed Air Co. (NYSE:SEE)

Pictet Asset Management Holding SA raised its position in Sealed Air Co. (NYSE:SEE) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,708 shares of the industrial products company’s stock after purchasing an additional 933 shares during the period. Pictet Asset Management Holding SA’s holdings in Sealed Air were worth $1,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SEE. Vanguard Group Inc. raised its position in shares of Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock worth $620,117,000 after buying an additional 2,754,395 shares in the last quarter. Swedbank AB increased its stake in Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock worth $78,678,000 after acquiring an additional 846,882 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sealed Air by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock valued at $83,542,000 after acquiring an additional 12,559 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock valued at $68,182,000 after acquiring an additional 920,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sealed Air by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after purchasing an additional 32,976 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Down 10.0 %

Shares of NYSE SEE opened at $24.39 on Monday. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 8.97 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm’s fifty day moving average is $31.89 and its 200 day moving average is $34.16. Sealed Air Co. has a 52 week low of $24.35 and a 52 week high of $41.14.

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

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is currently 44.20%.

Insider Transactions at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at $1,050,000. The trade was a 3.31 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SEE. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research note on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of 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. UBS Group upped their target price on shares of Sealed Air from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Wells Fargo & Company raised their price target on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, seven 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 an average target price of $40.25.

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.