Avantax Advisory Services Inc. Purchases 690 Shares of Sealed Air Co. (NYSE:SEE)

Avantax Advisory Services Inc. lifted its position in Sealed Air Co. (NYSE:SEE) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,775 shares of the industrial products company’s stock after purchasing an additional 690 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Sealed Air were worth $635,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Quarry LP grew its holdings in shares of Sealed Air by 9.2% in the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 311 shares during the last quarter. Arizona State Retirement System grew its holdings in Sealed Air by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock worth $1,430,000 after acquiring an additional 348 shares during the last quarter. Choreo LLC grew its holdings in Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 351 shares during the last quarter. Metis Global Partners LLC grew its holdings in Sealed Air by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after acquiring an additional 375 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Sealed Air by 3.3% during the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after acquiring an additional 377 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Sealed Air Price Performance

NYSE SEE opened at $29.08 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $28.67 and a 12-month high of $41.14. The company has a market capitalization of $4.24 billion, a PE ratio of 10.69 and a beta of 1.32. The firm’s 50 day moving average is $33.13 and its 200-day moving average is $34.53.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate 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 during 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 firm’s revenue was down .4% on a year-over-year basis. Equities research analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.75%. Sealed Air’s dividend payout ratio is presently 44.20%.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SEE. Bank of America decreased their price objective on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Mizuho decreased their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley cut 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. Finally, Wells Fargo & Company raised their target price 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. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.