Sealed Air Co. (NYSE:SEE) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in shares of Sealed Air Co. (NYSE:SEE) by 4.3% during the 4th quarter, HoldingsChannel reports. The firm owned 12,471 shares of the industrial products company’s stock after selling 557 shares during the period. M&T Bank Corp’s holdings in Sealed Air were worth $422,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in shares of Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sealed Air during the 4th quarter valued at about $45,000. GAMMA Investing LLC boosted its position in shares of Sealed Air by 218.0% during the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 907 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 913 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Sealed Air by 98.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 778 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Down 1.6 %

Shares of NYSE:SEE opened at $29.58 on Friday. 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 $4.31 billion, a PE ratio of 10.88 and a beta of 1.32. The firm’s 50-day moving average is $33.68 and its two-hundred day moving average is $34.78. Sealed Air Co. has a 1 year low of $29.33 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Analysts predict that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

Insiders Place Their Bets

In other news, Director Henry R. Keizer bought 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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 research report on Monday, January 13th. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research report on Tuesday, March 4th. Bank of America lowered their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Citigroup reduced their price objective 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. Six equities research 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

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.