Proficio Capital Partners LLC Takes Position in Sealed Air Co. (NYSE:SEE)

Proficio Capital Partners LLC purchased a new position in shares of Sealed Air Co. (NYSE:SEE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,180 shares of the industrial products company’s stock, valued at approximately $717,000.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Sealed Air by 2.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 35,445 shares of the industrial products company’s stock valued at $1,199,000 after purchasing an additional 824 shares during the last quarter. Impax Asset Management Group plc bought a new position in Sealed Air during the fourth quarter valued at about $18,210,000. Handelsbanken Fonder AB grew its position in Sealed Air by 25.1% during the fourth quarter. Handelsbanken Fonder AB now owns 40,900 shares of the industrial products company’s stock valued at $1,384,000 after buying an additional 8,200 shares during the period. Ieq Capital LLC increased its holdings in Sealed Air by 46.0% during the fourth quarter. Ieq Capital LLC now owns 19,534 shares of the industrial products company’s stock worth $661,000 after buying an additional 6,151 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Sealed Air in the fourth quarter worth about $237,000. 94.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. 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. Truist Financial upped their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, 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 report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Trading Up 0.6 %

Shares of SEE stock opened at $31.93 on Friday. The stock has a market capitalization of $4.65 billion, a PE ratio of 11.74 and a beta of 1.32. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The business has a 50-day moving average of $33.89 and a 200 day moving average of $34.87. 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 data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted $0.88 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s dividend payout ratio is currently 44.20%.

Sealed Air 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.