Callodine Capital Management LP Takes Position in Sealed Air Co. (NYSE:SEE)

Callodine Capital Management LP acquired a new stake in Sealed Air Co. (NYSE:SEE) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,000 shares of the industrial products company’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after buying an additional 913 shares during the last quarter. A&I Financial Services LLC acquired a new position in Sealed Air during the 4th quarter worth approximately $527,000. Kwmg LLC boosted its position in Sealed Air by 5.0% in the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company’s stock valued at $4,619,000 after buying an additional 6,527 shares in the last quarter. Amundi grew its stake in shares of Sealed Air by 131.6% during the fourth quarter. Amundi now owns 76,479 shares of the industrial products company’s stock worth $2,576,000 after buying an additional 43,458 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Sealed Air by 90.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company’s stock valued at $51,101,000 after acquiring an additional 715,668 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Up 2.0 %

SEE stock opened at $26.40 on Friday. The stock’s 50 day simple moving average is $29.90 and its 200 day simple moving average is $33.43. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market cap of $3.85 billion, a P/E ratio of 9.71 and a beta of 1.35.

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, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, research analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.03%. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

Insider Transactions at Sealed Air

In other news, Director Henry R. Keizer acquired 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SEE has been the subject of several research reports. Morgan Stanley dropped their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Bank of America reduced their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup reduced their price objective on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho cut their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.42.

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.