Tang Capital Management LLC Acquires New Stake in Sealed Air Co. (NYSE:SEE)

Tang Capital Management LLC acquired a new stake in shares of Sealed Air Co. (NYSE:SEE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,132 shares of the industrial products company’s stock, valued at approximately $952,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Sealed Air during the 4th quarter valued at approximately $27,000. Manchester Capital Management LLC increased its holdings in shares of 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sealed Air in the 4th quarter worth $45,000. Brown Brothers Harriman & Co. increased its holdings in shares of Sealed Air by 89.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 712 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Sealed Air by 148.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 913 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired 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 directly owns 35,000 shares of the company’s stock, valued at approximately $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 SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on SEE shares. Truist Financial reduced their target price on Sealed Air from $44.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Mizuho reduced their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group set a $36.00 target price on Sealed Air in a report on Tuesday, March 4th. Finally, Raymond James reduced their target price on Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Sealed Air Price Performance

NYSE SEE opened at $32.35 on Friday. The company has a market capitalization of $4.76 billion, a PE ratio of 11.89 and a beta of 1.35. 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 business’s fifty day moving average is $28.28 and its 200 day moving average is $32.42. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Sell-side analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.47%. Sealed Air’s dividend payout ratio (DPR) is presently 39.60%.

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.