Horizon Kinetics Asset Management LLC Acquires 350 Shares of Sealed Air Co. (NYSE:SEE)

Horizon Kinetics Asset Management LLC grew its holdings in shares of Sealed Air Co. (NYSE:SEE) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,450 shares of the industrial products company’s stock after purchasing an additional 350 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Sealed Air were worth $1,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Gallacher Capital Management LLC boosted its position in Sealed Air by 15.0% during the fourth quarter. Gallacher Capital Management LLC now owns 19,580 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 2,555 shares during the period. Royce & Associates LP purchased a new stake in shares of Sealed Air in the fourth quarter worth about $494,000. Natixis Advisors LLC lifted its holdings in shares of Sealed Air by 12.4% in the fourth quarter. Natixis Advisors LLC now owns 528,368 shares of the industrial products company’s stock worth $17,875,000 after buying an additional 58,273 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Sealed Air by 28.0% in the fourth quarter. Brandes Investment Partners LP now owns 552,706 shares of the industrial products company’s stock worth $18,698,000 after buying an additional 120,994 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Sealed Air by 0.8% in the fourth quarter. Swiss National Bank now owns 286,500 shares of the industrial products company’s stock worth $9,692,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Stock Up 1.1 %

Shares of NYSE SEE opened at $30.19 on Tuesday. Sealed Air Co. has a one year low of $29.33 and a one 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’s 50 day simple moving average is $33.46 and its two-hundred day simple moving average is $34.68. The stock has a market capitalization of $4.40 billion, a P/E ratio of 11.10 and a beta of 1.32.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results 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 net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts expect that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 14th. Sealed Air’s dividend payout ratio is 44.20%.

Insider Transactions at Sealed Air

In other news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Citigroup lowered their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

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.