Moore Capital Management LP Takes $16.80 Million Position in Sealed Air Corporation $SEE

Moore Capital Management LP bought a new stake in Sealed Air Corporation (NYSE:SEE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 475,316 shares of the industrial products company’s stock, valued at approximately $16,802,000. Moore Capital Management LP owned 0.32% of Sealed Air at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SEE. Wolverine Asset Management LLC acquired a new position in Sealed Air in the 3rd quarter valued at $3,005,000. Atlas FRM LLC lifted its stake in shares of Sealed Air by 71.9% in the 2nd quarter. Atlas FRM LLC now owns 980,000 shares of the industrial products company’s stock worth $30,409,000 after acquiring an additional 410,000 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Sealed Air by 35.7% in the 3rd quarter. Sound Income Strategies LLC now owns 123,445 shares of the industrial products company’s stock worth $4,316,000 after acquiring an additional 32,466 shares during the period. Legal & General Group Plc boosted its holdings in shares of Sealed Air by 4.3% in the second quarter. Legal & General Group Plc now owns 413,651 shares of the industrial products company’s stock valued at $12,836,000 after acquiring an additional 16,864 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Sealed Air by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,453,216 shares of the industrial products company’s stock worth $76,137,000 after acquiring an additional 12,909 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on SEE shares. Stifel Nicolaus restated a “hold” rating and set a $45.00 target price (up from $43.80) on shares of Sealed Air in a research report on Monday, November 17th. Raymond James Financial lowered Sealed Air from an “outperform” rating to a “market perform” rating in a research note on Monday, December 22nd. Robert W. Baird restated a “neutral” rating and issued a $42.00 price target (down from $45.00) on shares of Sealed Air in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sealed Air in a research note on Monday, December 29th. Finally, Truist Financial lifted their price objective on Sealed Air from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and a consensus price target of $44.09.

Sealed Air Price Performance

SEE stock opened at $41.86 on Tuesday. The stock has a 50-day moving average price of $41.84 and a two-hundred day moving average price of $39.07. The company has a market cap of $6.17 billion, a PE ratio of 12.20 and a beta of 1.35. The company has a current ratio of 0.91, a quick ratio of 0.56 and a debt-to-equity ratio of 2.65. Sealed Air Corporation has a 12-month low of $22.78 and a 12-month high of $44.27.

Sealed Air (NYSE:SEE) last posted its earnings results on Monday, March 2nd. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. Sealed Air had a net margin of 9.43% and a return on equity of 47.21%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts predict that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 annualized dividend and a yield of 1.9%. Sealed Air’s dividend payout ratio (DPR) is 23.32%.

About Sealed Air

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.