Assetmark Inc. Has $2 Million Holdings in Sealed Air Co. (NYSE:SEE)

Assetmark Inc. cut its stake in shares of Sealed Air Co. (NYSE:SEE) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,872 shares of the industrial products company’s stock after selling 868 shares during the period. Assetmark Inc.’s holdings in Sealed Air were worth $2,004,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Sealed Air by 17.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,482 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 1,120 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Sealed Air by 1.5% during the third quarter. Yousif Capital Management LLC now owns 24,127 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 348 shares during the period. M&T Bank Corp increased its holdings in shares of Sealed Air by 10.3% during the third quarter. M&T Bank Corp now owns 14,509 shares of the industrial products company’s stock worth $477,000 after purchasing an additional 1,351 shares during the period. Signaturefd LLC increased its holdings in shares of Sealed Air by 80.3% during the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 476 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Sealed Air during the third quarter worth approximately $409,000. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SEE has been the topic of several recent research reports. Truist Financial raised shares of Sealed Air from a “hold” rating to a “buy” rating and raised their target price for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Wolfe Research assumed coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. William Blair reissued a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Finally, Mizuho decreased their price objective on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Sealed Air Stock Performance

NYSE SEE opened at $37.23 on Friday. The firm’s fifty day moving average price is $34.96 and its two-hundred day moving average price is $35.11. The stock has a market cap of $5.42 billion, a PE ratio of 14.95, a PEG ratio of 3.34 and a beta of 1.31. Sealed Air Co. has a fifty-two week low of $28.50 and a fifty-two week high of $47.12. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts expect that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.15%. Sealed Air’s dividend payout ratio (DPR) is presently 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.