Investment management company Vulcan Value Partners recently released its third quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, all delivering negative returns in the third quarter. The fund’s Large Cap Composite returned -4.2% net of fees and expenses, the Small Cap Composite returned -5.7 % net, the Focus Composite returned -1.9% net, the Focus Plus composite returned -2.0%, and the All-Cap Composite returned -4.9% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners highlighted stocks like Sealed Air Corporation (NYSE:SEE) in the Q3 2023 investor letter. Headquartered in Charlotte, North Carolina, Sealed Air Corporation (NYSE:SEE) is a packaging solutions provider. On October 13, 2023, Sealed Air Corporation (NYSE:SEE) stock closed at $29.55 per share. One-month return of Sealed Air Corporation (NYSE:SEE) was -14.17% and its shares lost 37.47% of their value over the last 52 weeks. Sealed Air Corporation (NYSE:SEE) has a market capitalization of $4.285 billion.
Vulcan Value Partners made the following comment about Sealed Air Corporation (NYSE:SEE) in its Q3 2023 investor letter:
“Sealed Air Corporation (NYSE:SEE) is a global protective packaging company operating in the food and beverage, industrial, and e-commerce markets. The company sells both packaging equipment and consumable packaging. Sealed Air has a strong market position with leading technology and brands. In the food and beverage market, the Cryovac brand is the gold standard for packaging and shipping fresh, uncooked proteins. Food safety is critically important, and customers are willing to pay for quality and reliability. Additionally, switching costs are high and customer relationships are typically sticky and long term in nature. Sealed Air’s brands in e-commerce and industrial include Bubble Wrap and Instapax, and the competitive advantages in these markets are largely similar.”
A team of factory workers packaging items in a modern factory. Editorial photo for a financial news article. 8k. –ar 16:9
Sealed Air Corporation (NYSE:SEE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Sealed Air Corporation (NYSE:SEE) at the end of the second quarter, which was 32 in the previous quarter.
We discussed Sealed Air Corporation (NYSE:SEE) in another article and shared the list of best packaging stocks to buy. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
