Empowered Funds LLC Cuts Position in Sealed Air Co. (NYSE:SEE)

Empowered Funds LLC cut its stake in Sealed Air Co. (NYSE:SEE) by 70.8% in the 4th quarter, Holdings Channel reports. The fund owned 12,060 shares of the industrial products company’s stock after selling 29,182 shares during the quarter. Empowered Funds LLC’s holdings in Sealed Air were worth $408,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SEE. CWM LLC lifted its stake in Sealed Air by 81.4% in the third quarter. CWM LLC now owns 5,961 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 2,675 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Sealed Air by 20.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,590 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 1,441 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Sealed Air by 8.9% in the third quarter. GHP Investment Advisors Inc. now owns 40,625 shares of the industrial products company’s stock worth $1,475,000 after purchasing an additional 3,334 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Sealed Air by 51.0% in the third quarter. State of Alaska Department of Revenue now owns 129,129 shares of the industrial products company’s stock worth $4,686,000 after purchasing an additional 43,635 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Sealed Air by 5.5% in the third quarter. New York State Teachers Retirement System now owns 166,502 shares of the industrial products company’s stock worth $6,044,000 after purchasing an additional 8,669 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company lowered their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Truist Financial increased their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Bank of America decreased their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Sealed Air Price Performance

Shares of SEE opened at $33.19 on Thursday. The stock has a market cap of $4.83 billion, a PE ratio of 12.20 and a beta of 1.34. 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 Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The firm’s 50-day simple moving average is $34.38 and its two-hundred day simple moving average is $34.95.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

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.