Proficio Capital Partners LLC Makes New Investment in Sealed Air Co. (NYSE:SEE)

Proficio Capital Partners LLC acquired a new position in shares of Sealed Air Co. (NYSE:SEE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,180 shares of the industrial products company’s stock, valued at approximately $717,000.

A number of other large investors have also made changes to their positions in SEE. Swedbank AB purchased a new position in shares of Sealed Air in the 3rd quarter valued at about $53,681,000. Victory Capital Management Inc. increased its holdings in shares of Sealed Air by 84.0% in 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 purchasing an additional 920,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sealed Air by 501.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after purchasing an additional 662,606 shares in the last quarter. Maple Rock Capital Partners Inc. increased its holdings in shares of Sealed Air by 56.6% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after purchasing an additional 548,493 shares in the last quarter. Finally, Impax Asset Management Group plc purchased a new position in shares of Sealed Air in the 4th quarter valued at about $18,210,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

Sealed Air stock opened at $29.08 on Friday. Sealed Air Co. has a 12-month low of $28.67 and a 12-month high of $41.14. The stock has a market capitalization of $4.24 billion, a P/E ratio of 10.69 and a beta of 1.32. The firm’s 50-day moving average is $33.13 and its two-hundred day moving average is $34.53. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. Sealed Air’s dividend payout ratio is presently 44.20%.

Insider Buying and Selling

In related 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 acquired at an average cost of $30.00 per share, with a total value 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. The trade was a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SEE. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a report 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 note on Monday, January 13th. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America lowered their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group increased their price objective on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.