Fox Run Management L.L.C. Raises Stake in Sealed Air Co. (NYSE:SEE)

Fox Run Management L.L.C. increased its stake in Sealed Air Co. (NYSE:SEE) by 52.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,829 shares of the industrial products company’s stock after acquiring an additional 4,387 shares during the quarter. Fox Run Management L.L.C.’s holdings in Sealed Air were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. Victory Capital Management Inc. increased its position in shares of Sealed Air by 84.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock worth $68,182,000 after acquiring an additional 920,000 shares during the period. Swedbank AB grew its stake in Sealed Air by 57.3% in the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock worth $78,678,000 after purchasing an additional 846,882 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Sealed Air by 501.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock worth $28,853,000 after purchasing an additional 662,606 shares during the period. Maple Rock Capital Partners Inc. raised its position in 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 purchasing an additional 548,493 shares in the last quarter. Finally, Impax Asset Management Group plc purchased a new stake in shares of Sealed Air in the 4th quarter worth $18,210,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Down 0.7 %

SEE stock opened at $29.35 on Wednesday. The stock has a market capitalization of $4.28 billion, a PE ratio of 10.79 and a beta of 1.32. Sealed Air Co. has a 52 week low of $28.67 and a 52 week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a 50 day moving average of $32.95 and a 200 day moving average of $34.46.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s payout ratio is 44.20%.

Insider Buying and Selling

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. The trade was a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SEE shares. Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho reduced their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their price target on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, UBS Group raised their price objective on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sealed Air presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

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.