Peregrine Capital Management LLC Invests $5.91 Million in Sealed Air Co. (NYSE:SEE)

Peregrine Capital Management LLC acquired a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 174,797 shares of the industrial products company's stock, valued at approximately $5,913,000. Peregrine Capital Management LLC owned 0.12% of Sealed Air at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its position in Sealed Air by 1,531.5% during the 4th quarter. Venturi Wealth Management LLC now owns 5,123 shares of the industrial products company's stock worth $173,000 after acquiring an additional 4,809 shares during the period. Acuitas Investments LLC boosted its position in Sealed Air by 64.3% during the 4th quarter. Acuitas Investments LLC now owns 2,300 shares of the industrial products company's stock worth $78,000 after acquiring an additional 900 shares during the period. Truist Financial Corp boosted its position in Sealed Air by 3.3% during the 4th quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock worth $399,000 after acquiring an additional 377 shares during the period. CIBC Asset Management Inc boosted its position in Sealed Air by 6.0% during the 4th quarter. CIBC Asset Management Inc now owns 10,557 shares of the industrial products company's stock worth $357,000 after acquiring an additional 596 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Sealed Air by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 712,595 shares of the industrial products company's stock worth $24,107,000 after acquiring an additional 18,709 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SEE shares. Truist Financial lifted their price target on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 6th. Morgan Stanley reduced their price target on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on Sealed Air from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, January 6th. UBS Group reduced their price target on Sealed Air from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, Bank of America reduced their price target on Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Sealed Air Stock Performance

NYSE SEE traded down $0.74 during trading on Friday, hitting $32.32. The company's stock had a trading volume of 1,645,627 shares, compared to its average volume of 1,145,855. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a 50 day moving average price of $34.25 and a 200 day moving average price of $34.92. The firm has a market cap of $4.71 billion, a P/E ratio of 11.88 and a beta of 1.34. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Sealed Air's payout ratio is presently 29.41%.

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.