Bank of New York Mellon Corp Trims Stock Holdings in Sealed Air Co. (NYSE:SEE)

Bank of New York Mellon Corp reduced its position in Sealed Air Co. (NYSE:SEE - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,439,068 shares of the industrial products company's stock after selling 82,834 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of Sealed Air worth $48,684,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC boosted its stake in shares of Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sealed Air in the 4th quarter valued at $45,000. Acuitas Investments LLC boosted its stake in shares of Sealed Air by 64.3% in the 4th quarter. Acuitas Investments LLC now owns 2,300 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 900 shares during the last quarter. Finally, Quarry LP boosted its stake 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 valued at $134,000 after purchasing an additional 311 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

SEE has been the topic of a number of research reports. Bank of America dropped their target price 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. Truist Financial upped 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. Wells Fargo & Company upped their price objective 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. UBS Group upped their price objective on shares of Sealed Air from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Six 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 company. According to MarketBeat, Sealed Air currently has an average rating of "Moderate Buy" and a consensus price target of $40.17.

Sealed Air Stock Up 0.6 %

Shares of SEE stock traded up $0.21 on Friday, hitting $31.93. The stock had a trading volume of 1,691,661 shares, compared to its average volume of 1,345,038. The business has a 50 day moving average of $33.89 and a 200 day moving average of $34.87. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 11.74 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate 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 firm's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. As a group, analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.51%. Sealed Air's payout ratio is currently 44.20%.

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.