Columbia Asset Management Sells 15,849 Shares of Sealed Air Co. (NYSE:SEE)

Columbia Asset Management lessened its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,607 shares of the industrial products company's stock after selling 15,849 shares during the period. Columbia Asset Management's holdings in Sealed Air were worth $1,103,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SEE. Vanguard Group Inc. lifted its holdings in Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after acquiring an additional 2,754,395 shares during the period. Swedbank AB raised its stake in shares of Sealed Air by 57.3% during the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock worth $78,678,000 after purchasing an additional 846,882 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $83,542,000 after buying an additional 12,559 shares during the period. Victory Capital Management Inc. increased its holdings in Sealed Air by 84.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock worth $68,182,000 after buying an additional 920,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Sealed Air by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company's stock worth $55,716,000 after acquiring an additional 32,976 shares during the period. 94.40% of the stock is owned by institutional investors.

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Sealed Air Trading Down 10.0 %

NYSE:SEE traded down $2.70 during midday trading on Friday, reaching $24.39. 3,464,529 shares of the stock traded hands, compared to its average volume of 1,495,084. The company has a fifty day moving average of $31.89 and a 200 day moving average of $34.17. Sealed Air Co. has a 12 month low of $24.35 and a 12 month high of $41.14. The stock has a market capitalization of $3.55 billion, a P/E ratio of 8.97 and a beta of 1.35. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the business posted $0.88 EPS. The business's revenue was down .4% on a year-over-year basis. On average, research analysts predict that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 3.28%. Sealed Air's payout ratio is 44.20%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SEE shares. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Citigroup dropped their price objective on Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Bank of America cut their price objective on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Truist Financial boosted their target price on Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Mizuho cut their price target on shares of Sealed Air from $45.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sealed Air has an average rating of "Moderate Buy" and an average price target of $40.25.

Insiders Place Their Bets

In other news, Director Henry R. Keizer acquired 1,120 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares in the company, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.