Arrowstreet Capital Limited Partnership Reduces Stock Position in Sealed Air Co. (NYSE:SEE)

Arrowstreet Capital Limited Partnership cut its stake in Sealed Air Co. (NYSE:SEE) by 71.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 47,135 shares of the industrial products company’s stock after selling 116,341 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Sealed Air were worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SEE. Brown Brothers Harriman & Co. grew its holdings in shares of 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 worth $51,000 after acquiring an additional 712 shares during the period. Heartland Advisors Inc. grew its stake in shares of Sealed Air by 5.2% during the 4th quarter. Heartland Advisors Inc. now owns 358,872 shares of the industrial products company’s stock valued at $12,141,000 after purchasing an additional 17,650 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Sealed Air by 19.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,357 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 2,822 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Sealed Air by 3.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 30,708 shares of the industrial products company’s stock valued at $1,039,000 after purchasing an additional 933 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Sealed Air in the 4th quarter worth approximately $438,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

NYSE SEE opened at $25.26 on Friday. The business has a 50-day moving average price of $30.71 and a 200-day moving average price of $33.76. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 9.28 and a beta of 1.35. Sealed Air Co. has a twelve month low of $22.78 and a twelve month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

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

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s payout ratio is currently 44.20%.

Insider Buying and Selling at Sealed Air

In other news, Director Henry R. Keizer bought 1,120 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SEE shares. Mizuho cut their target price on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research report on Tuesday, March 4th. Wells Fargo & Company upped their price objective on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.25.

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.