Brevan Howard Capital Management LP Sells 14,203 Shares of Sealed Air Co. (NYSE:SEE)

Brevan Howard Capital Management LP decreased its stake in shares of Sealed Air Co. (NYSE:SEE) by 56.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,881 shares of the industrial products company’s stock after selling 14,203 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Sealed Air were worth $368,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SEE. Manchester Capital Management LLC boosted its stake in Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after buying an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sealed Air during the fourth quarter valued at approximately $45,000. Smartleaf Asset Management LLC increased its position in shares of Sealed Air by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 913 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 712 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Henry R. Keizer acquired 1,120 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, with a total value of $33,600.00. Following the acquisition, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Monday, April 7th. Raymond James dropped their price target on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research note on Tuesday, March 4th. Wells Fargo & Company raised their target price on shares of Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, Truist Financial cut their target price on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Sealed Air Stock Down 0.5 %

SEE stock opened at $30.59 on Friday. The business’s 50-day moving average price is $28.19 and its 200-day moving average price is $32.57. The stock has a market cap of $4.49 billion, a P/E ratio of 11.25 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a twelve month low of $22.78 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. On average, equities research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. Sealed Air’s dividend payout ratio is presently 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.