Handelsinvest Investeringsforvaltning Sells 3,883 Shares of Sealed Air Co. (NYSE:SEE)

Handelsinvest Investeringsforvaltning reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 34.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 7,479 shares of the industrial products company’s stock after selling 3,883 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Sealed Air were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SEE. HighTower Advisors LLC lifted its holdings in shares of Sealed Air by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,183 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 809 shares during the last quarter. Stifel Financial Corp lifted its stake in Sealed Air by 6.0% in the third quarter. Stifel Financial Corp now owns 61,321 shares of the industrial products company’s stock worth $2,015,000 after purchasing an additional 3,497 shares during the last quarter. Trexquant Investment LP bought a new stake in Sealed Air in the third quarter worth $740,000. Treasurer of the State of North Carolina raised its stake in shares of Sealed Air by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 63,143 shares of the industrial products company’s stock valued at $2,075,000 after acquiring an additional 320 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Sealed Air by 4.6% during the third quarter. Tower Research Capital LLC TRC now owns 12,589 shares of the industrial products company’s stock valued at $414,000 after acquiring an additional 558 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Performance

SEE traded up $0.29 during trading on Wednesday, hitting $34.41. The company’s stock had a trading volume of 15,372 shares, compared to its average volume of 1,531,791. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. Sealed Air Co. has a one year low of $28.50 and a one year high of $47.12. The firm has a market cap of $5.01 billion, a PE ratio of 13.70, a P/E/G ratio of 3.12 and a beta of 1.35. The business’s 50 day simple moving average is $36.59 and its 200-day simple moving average is $35.83.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, sell-side analysts predict that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.32%. Sealed Air’s dividend payout ratio (DPR) is presently 32.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SEE shares. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Truist Financial reaffirmed a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research note on Monday, June 17th. Finally, Mizuho raised shares of Sealed Air from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $50.00 in a research note on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and an average price target of $44.90.

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.