Cwm LLC Sells 1,989 Shares of Sealed Air Co. (NYSE:SEE)

Cwm LLC lowered its stake in Sealed Air Co. (NYSE:SEE) by 36.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,413 shares of the industrial products company’s stock after selling 1,989 shares during the quarter. Cwm LLC’s holdings in Sealed Air were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invenomic Capital Management LP bought a new stake in Sealed Air in the fourth quarter valued at approximately $6,834,000. Dark Forest Capital Management LP purchased a new position in shares of Sealed Air during the third quarter valued at approximately $895,000. BNP Paribas Financial Markets increased its stake in shares of Sealed Air by 158.5% during the fourth quarter. BNP Paribas Financial Markets now owns 322,620 shares of the industrial products company’s stock valued at $11,782,000 after buying an additional 197,799 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $2,965,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Sealed Air by 66.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock valued at $8,218,000 after buying an additional 99,700 shares during the period. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Performance

Shares of SEE opened at $35.98 on Monday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 3.23 and a beta of 1.35. The business’s fifty day simple moving average is $36.09 and its two-hundred day simple moving average is $35.79. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $47.12. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.53 by $0.25. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. Sealed Air’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Research analysts anticipate that Sealed Air Co. will post 2.89 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.22%. Sealed Air’s payout ratio is 32.13%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SEE. William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Wolfe Research assumed coverage on Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Mizuho raised Sealed Air from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $50.00 in a research note on Thursday, June 6th. Truist Financial reaffirmed a “buy” rating and issued a $44.00 price target on shares of Sealed Air in a research note on Monday, June 17th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.90.

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.