Seven Eight Capital LP Sells 29,144 Shares of Sealed Air Co. (NYSE:SEE)

Seven Eight Capital LP cut its stake in Sealed Air Co. (NYSE:SEE) by 66.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,684 shares of the industrial products company’s stock after selling 29,144 shares during the quarter. Seven Eight Capital LP’s holdings in Sealed Air were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Family Firm Inc. bought a new position in Sealed Air in the 2nd quarter valued at about $26,000. Fidelis Capital Partners LLC acquired a new stake in Sealed Air during the 1st quarter worth approximately $31,000. Allspring Global Investments Holdings LLC bought a new stake in Sealed Air in the 1st quarter valued at $52,000. Covestor Ltd grew its holdings in Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,400 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in Sealed Air by 36.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,224 shares of the industrial products company’s stock worth $81,000 after buying an additional 598 shares during the period. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analysts Set New Price Targets

SEE has been the topic of several research reports. UBS Group decreased their price target on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group downgraded shares of Sealed Air from a “buy” rating to a “hold” rating and dropped their price target for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $43.00 to $40.00 in a research report on Friday, July 19th. Finally, Wells Fargo & Company lifted their price objective on Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $41.30.

Sealed Air Stock Performance

NYSE:SEE opened at $35.09 on Monday. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The stock’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $35.40. The firm has a market capitalization of $5.11 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 8.59 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. On average, analysts anticipate that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s payout ratio is 32.13%.

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.