Commonwealth Equity Services LLC Sells 1,592 Shares of Sealed Air Co. (NYSE:SEE)

Commonwealth Equity Services LLC reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 9.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,206 shares of the industrial products company’s stock after selling 1,592 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sealed Air were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB grew its holdings in Sealed Air by 57.3% during the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after purchasing an additional 846,882 shares during the period. Geode Capital Management LLC boosted its position in shares of Sealed Air by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock worth $83,542,000 after purchasing an additional 12,559 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sealed Air by 84.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock valued at $68,182,000 after buying an additional 920,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Sealed Air by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock valued at $55,716,000 after buying an additional 32,976 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Sealed Air by 501.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 794,861 shares of the industrial products company’s stock valued at $28,853,000 after buying an additional 662,606 shares in the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Performance

Shares of SEE opened at $24.39 on Friday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 8.97 and a beta of 1.32. Sealed Air Co. has a 12 month low of $24.35 and a 12 month high of $41.14. The firm has a fifty day simple moving average of $31.89 and a 200 day simple moving average of $34.17. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.28%. Sealed Air’s dividend payout ratio is 44.20%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company lifted their price objective on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Citigroup lowered their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research note on Tuesday, March 4th. Finally, Truist Financial upped their price target on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

Insiders Place Their Bets

In other news, Director Henry R. Keizer purchased 1,120 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now directly owns 35,000 shares in the company, valued at $1,050,000. The trade was a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Sealed Air 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.