Canada Pension Plan Investment Board Buys New Stake in Sealed Air Co. (NYSE:SEE)

Canada Pension Plan Investment Board purchased a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 90,200 shares of the industrial products company's stock, valued at approximately $3,051,000. Canada Pension Plan Investment Board owned 0.06% of Sealed Air as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. NFJ Investment Group LLC increased its stake in Sealed Air by 18.7% during the 4th quarter. NFJ Investment Group LLC now owns 46,277 shares of the industrial products company's stock valued at $1,566,000 after buying an additional 7,300 shares during the period. PEAK6 LLC bought a new position in shares of Sealed Air in the fourth quarter valued at approximately $349,000. Guggenheim Capital LLC boosted its holdings in shares of Sealed Air by 18.1% in the fourth quarter. Guggenheim Capital LLC now owns 36,863 shares of the industrial products company's stock valued at $1,247,000 after acquiring an additional 5,654 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Sealed Air by 53.7% during the fourth quarter. Sterling Capital Management LLC now owns 8,283 shares of the industrial products company's stock valued at $280,000 after acquiring an additional 2,894 shares during the period. Finally, Covestor Ltd raised its holdings in Sealed Air by 26.9% during the fourth quarter. Covestor Ltd now owns 3,157 shares of the industrial products company's stock worth $107,000 after purchasing an additional 670 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Trading Up 2.7 %

Shares of NYSE SEE opened at $26.72 on Wednesday. The firm has a market capitalization of $3.89 billion, a PE ratio of 9.82 and a beta of 1.35. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The business has a 50-day moving average price of $29.44 and a two-hundred day moving average price of $33.22.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $1.37 billion for 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 was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced 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 was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.99%. Sealed Air's dividend payout ratio (DPR) is currently 44.20%.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought 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 of the company's stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SEE shares. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Raymond James cut their price target on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a report on Tuesday. Bank of America lowered their price objective on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. 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. Finally, Mizuho dropped their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.00.

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.

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