Callodine Capital Management LP Buys New Position in Sealed Air Co. (NYSE:SEE)

Callodine Capital Management LP bought a new stake in shares of Sealed Air Co. (NYSE:SEE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,000 shares of the industrial products company’s stock, valued at approximately $677,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arizona State Retirement System increased its position in Sealed Air by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 348 shares during the period. Horizon Kinetics Asset Management LLC increased its position in shares of Sealed Air by 0.8% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company’s stock valued at $1,470,000 after buying an additional 350 shares during the period. Choreo LLC raised its stake in Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock worth $331,000 after buying an additional 351 shares in the last quarter. Metis Global Partners LLC boosted its position in Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 375 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Sealed Air by 3.3% in the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Insider Transactions at Sealed Air

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought 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 owns 35,000 shares of the company’s stock, valued at $1,050,000. This represents a 3.31 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Sealed Air Stock Up 2.0 %

SEE opened at $26.40 on Friday. Sealed Air Co. has a twelve month low of $22.78 and a twelve month 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 price of $29.90 and a 200-day moving average price of $33.43. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 9.71 and a beta of 1.35.

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

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.03%. Sealed Air’s dividend payout ratio is currently 44.20%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SEE shares. Citigroup reduced their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. UBS Group upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Monday, April 7th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Mizuho lowered their price objective on Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Bank of America lowered their price target 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. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.42.

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.