Oppenheimer Asset Management Inc. Cuts Holdings in Sealed Air Co. (NYSE:SEE)

Oppenheimer Asset Management Inc. lowered its stake in shares of Sealed Air Co. (NYSE:SEE) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,659 shares of the industrial products company’s stock after selling 1,017 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sealed Air were worth $1,781,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in Sealed Air in the third quarter valued at $139,800,000. Swedbank AB bought a new position in shares of Sealed Air during the 3rd quarter valued at about $53,681,000. JPMorgan Chase & Co. increased its position in shares of Sealed Air by 501.0% during 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 during the last quarter. Maple Rock Capital Partners Inc. raised its holdings in shares of Sealed Air by 56.6% during 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 buying an additional 548,493 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new stake in Sealed Air in the 4th quarter worth approximately $18,210,000. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Down 4.7 %

Shares of NYSE:SEE opened at $32.58 on Tuesday. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The stock’s 50-day moving average is $34.09 and its 200 day moving average is $34.93. The company has a market cap of $4.75 billion, a PE ratio of 11.98 and a beta of 1.34.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business 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. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.46%. Sealed Air’s dividend payout ratio is 44.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SEE shares. Wells Fargo & Company increased their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. UBS Group increased their target price on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Truist Financial boosted their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup reduced their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.17.

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.