Columbia Asset Management Trims Stock Position in Sealed Air Co. (NYSE:SEE)

Columbia Asset Management decreased its position in Sealed Air Co. (NYSE:SEE) by 32.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,607 shares of the industrial products company’s stock after selling 15,849 shares during the period. Columbia Asset Management’s holdings in Sealed Air were worth $1,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC grew its position in Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC grew its holdings in shares of Sealed Air by 218.0% during the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 907 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sealed Air during the 4th quarter worth about $45,000. Smartleaf Asset Management LLC raised its holdings in 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 valued at $51,000 after buying an additional 913 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock valued at $51,000 after buying an additional 712 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Up 0.4 %

SEE stock opened at $29.02 on Wednesday. The company’s 50 day moving average price is $32.40 and its 200 day moving average price is $34.33. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 10.67 and a beta of 1.32. Sealed Air Co. has a fifty-two week low of $28.37 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.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.76%. Sealed Air’s payout ratio is currently 44.20%.

Wall Street Analyst Weigh In

SEE has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Truist Financial upped their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup dropped their price objective on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley decreased their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Bank of America dropped their target price on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Sealed Air Company 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.