First City Capital Management Inc. Has $413,000 Stock Holdings in Sealed Air Co. (NYSE:SEE)

First City Capital Management Inc. lowered its stake in Sealed Air Co. (NYSE:SEE) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,220 shares of the industrial products company’s stock after selling 350 shares during the period. First City Capital Management Inc.’s holdings in Sealed Air were worth $413,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SEE. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air in the 2nd quarter valued at about $34,000. GAMMA Investing LLC lifted its stake in Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 907 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Sealed Air by 100.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sealed Air by 523.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Sealed Air in the 2nd quarter valued at approximately $105,000. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Performance

NYSE:SEE traded up $0.46 during trading hours on Friday, reaching $33.75. The company had a trading volume of 465,483 shares, compared to its average volume of 747,327. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The firm has a market cap of $4.92 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The business’s 50 day moving average price is $35.59 and its 200-day moving average price is $35.31. 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 announced its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.12. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 EPS. Research analysts forecast that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s payout ratio is currently 29.41%.

Analyst Upgrades and Downgrades

SEE has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Finally, Truist Financial dropped their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Sealed Air

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.