Quadrature Capital Ltd Decreases Stock Holdings in Sealed Air Co. (NYSE:SEE)

Quadrature Capital Ltd cut its position in Sealed Air Co. (NYSE:SEE) by 32.7% in the first quarter, HoldingsChannel.com reports. The firm owned 34,190 shares of the industrial products company’s stock after selling 16,632 shares during the period. Quadrature Capital Ltd’s holdings in Sealed Air were worth $1,272,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Sealed Air by 2,549.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after acquiring an additional 5,138,700 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Sealed Air during the 4th quarter worth $86,410,000. Norges Bank acquired a new position in Sealed Air during the 4th quarter valued at about $52,968,000. Vanguard Group Inc. raised its stake in Sealed Air by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after buying an additional 600,146 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Sealed Air by 343.8% in the fourth quarter. Principal Financial Group Inc. now owns 751,699 shares of the industrial products company’s stock worth $27,452,000 after acquiring an additional 582,331 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEE has been the topic of several recent analyst reports. Stifel Nicolaus began coverage on shares of Sealed Air in a report on Tuesday, July 9th. They set a “buy” rating and a $47.00 price objective on the stock. Truist Financial reiterated a “buy” rating and set a $44.00 price objective on shares of Sealed Air in a research note on Monday, June 17th. William Blair reissued a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Citigroup reduced their target price on Sealed Air from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Royal Bank of Canada downgraded Sealed Air from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $43.00 to $40.00 in a research note on Friday, July 19th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.33.

Sealed Air Stock Performance

Shares of SEE traded up $1.22 during mid-day trading on Friday, reaching $37.69. The company had a trading volume of 1,206,805 shares, compared to its average volume of 1,153,071. The stock has a market capitalization of $5.49 billion, a P/E ratio of 15.14, a PEG ratio of 4.46 and a beta of 1.35. Sealed Air Co. has a 52-week low of $28.50 and a 52-week high of $47.12. The stock has a 50 day moving average of $36.64 and a two-hundred day moving average of $35.72. 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 (NYSE:SEE) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.53 by $0.25. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, analysts expect that Sealed Air Co. will post 2.86 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, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a yield of 2.12%. Sealed Air’s payout ratio is 32.13%.

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.