Franklin Resources Inc. Increases Position in Sealed Air Co. (NYSE:SEE)

Franklin Resources Inc. increased its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 36.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 420,906 shares of the industrial products company's stock after buying an additional 113,508 shares during the period. Franklin Resources Inc. owned 0.29% of Sealed Air worth $14,239,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after acquiring an additional 913 shares in the last quarter. A&I Financial Services LLC acquired a new stake in Sealed Air in the fourth quarter valued at approximately $527,000. Kwmg LLC grew its holdings in Sealed Air by 5.0% in the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company's stock valued at $4,619,000 after purchasing an additional 6,527 shares during the period. Amundi increased its position in shares of Sealed Air by 131.6% in the fourth quarter. Amundi now owns 76,479 shares of the industrial products company's stock valued at $2,576,000 after buying an additional 43,458 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sealed Air by 90.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after buying an additional 715,668 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.

Remove Ads

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the transaction, the director now owns 35,000 shares of the company's stock, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America cut their price target on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price target on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Truist Financial raised their target price on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.25.

Sealed Air Trading Up 2.8 %

Shares of NYSE SEE traded up $0.70 during trading on Friday, hitting $25.96. 1,924,683 shares of the company were exchanged, compared to its average volume of 1,533,165. 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 Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The company has a fifty day moving average price of $30.54 and a 200-day moving average price of $33.69. The firm has a market capitalization of $3.78 billion, a PE ratio of 9.54 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air's revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, equities research analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 3.08%. Sealed Air's dividend payout ratio (DPR) is 44.20%.

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.