8,153 Shares in Sealed Air Co. (NYSE:SEE) Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. acquired a new position in shares of Sealed Air Co. (NYSE:SEE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,153 shares of the industrial products company’s stock, valued at approximately $276,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after purchasing an additional 2,754,395 shares during the period. Invesco Ltd. raised its stake in shares of Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock valued at $128,176,000 after purchasing an additional 1,549,184 shares during the period. Norges Bank acquired a new stake in shares of Sealed Air in the 4th quarter valued at about $50,562,000. Victory Capital Management Inc. raised its stake 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 purchasing an additional 920,000 shares during the period. Finally, Swedbank AB raised its stake in shares of Sealed Air by 57.3% in the 4th 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. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SEE. Truist Financial dropped their price target on Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company raised 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. Mizuho decreased their price objective on Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Monday, April 7th. Finally, StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Sealed Air Trading Up 0.4 %

Sealed Air stock opened at $27.74 on Tuesday. Sealed Air Co. has a 52 week low of $22.78 and a 52 week high of $41.14. The stock has a market capitalization of $4.08 billion, a P/E ratio of 10.20 and a beta of 1.35. The stock has a 50-day simple moving average of $28.94 and a 200 day simple moving average of $33.01. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data 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. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio is presently 44.20%.

Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired 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 in the company, valued at approximately $1,050,000. This represents a 3.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.