Gallacher Capital Management LLC Raises Holdings in Sealed Air Co. (NYSE:SEE)

Gallacher Capital Management LLC grew its stake in Sealed Air Co. (NYSE:SEE) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,580 shares of the industrial products company’s stock after purchasing an additional 2,555 shares during the period. Gallacher Capital Management LLC’s holdings in Sealed Air were worth $662,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State of New Jersey Common Pension Fund D boosted its holdings in Sealed Air by 10.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 56,755 shares of the industrial products company’s stock worth $2,060,000 after buying an additional 5,231 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Sealed Air during the 3rd quarter worth about $433,000. KBC Group NV boosted its stake in shares of Sealed Air by 20.1% during the 3rd quarter. KBC Group NV now owns 4,595 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 769 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Sealed Air by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 8,664 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 2,420 shares in the last quarter. Finally, ING Groep NV purchased a new position in Sealed Air during the third quarter worth approximately $3,510,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SEE. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. UBS Group increased their target price on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a report on Tuesday, March 4th. Wells Fargo & Company raised their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Mizuho decreased their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Sealed Air Stock Performance

NYSE:SEE opened at $29.85 on Friday. The company’s 50-day moving average is $33.53 and its two-hundred day moving average is $34.71. Sealed Air Co. has a 1-year low of $29.33 and a 1-year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 10.97 and a beta of 1.32.

Sealed Air (NYSE:SEE) last released 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. 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 posted $0.88 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.68%. Sealed Air’s dividend payout ratio (DPR) is currently 44.20%.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

About Sealed Air

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.