Callodine Capital Management LP Buys 413,161 Shares of Sealed Air Corporation $SEE

Callodine Capital Management LP lifted its stake in shares of Sealed Air Corporation (NYSE:SEE) by 688.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 473,161 shares of the industrial products company’s stock after buying an additional 413,161 shares during the quarter. Sealed Air comprises 1.5% of Callodine Capital Management LP’s portfolio, making the stock its 27th largest position. Callodine Capital Management LP owned approximately 0.32% of Sealed Air worth $16,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Assetmark Inc. boosted its position in Sealed Air by 0.6% during the 3rd quarter. Assetmark Inc. now owns 59,172 shares of the industrial products company’s stock valued at $2,092,000 after acquiring an additional 331 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Sealed Air by 3.9% in the 2nd quarter. Corient Private Wealth LLC now owns 11,432 shares of the industrial products company’s stock worth $355,000 after acquiring an additional 431 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Sealed Air by 4.1% in the 1st quarter. Empowered Funds LLC now owns 12,560 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 500 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Sealed Air by 0.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 67,852 shares of the industrial products company’s stock valued at $2,105,000 after purchasing an additional 505 shares during the period. Finally, Bessemer Group Inc. boosted its position in shares of Sealed Air by 4.5% during the third quarter. Bessemer Group Inc. now owns 13,437 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 583 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Price Performance

Shares of SEE opened at $41.82 on Friday. The company has a market capitalization of $6.16 billion, a P/E ratio of 12.19 and a beta of 1.35. Sealed Air Corporation has a twelve month low of $22.78 and a twelve month high of $44.27. The company has a quick ratio of 0.56, a current ratio of 0.91 and a debt-to-equity ratio of 2.65. The firm has a 50 day moving average of $41.84 and a 200 day moving average of $38.91.

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

Sealed Air Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sealed Air in a research note on Monday, December 29th. Robert W. Baird restated a “neutral” rating and set a $42.00 target price (down from $45.00) on shares of Sealed Air in a report on Thursday, December 18th. Raymond James Financial downgraded shares of Sealed Air from an “outperform” rating to a “market perform” rating in a research report on Monday, December 22nd. Wall Street Zen lowered shares of Sealed Air from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $45.00 price objective (up from $43.80) on shares of Sealed Air in a research note on Monday, November 17th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and an average price target of $44.09.

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.