Sealed Air Co. (NYSE:SEE) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,148 shares of the industrial products company's stock after selling 83,292 shares during the quarter. Prudential Financial Inc. owned 0.10% of Sealed Air worth $4,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP raised its stake in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company's stock valued at $134,000 after acquiring an additional 311 shares in the last quarter. Arizona State Retirement System raised its position in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock valued at $1,430,000 after purchasing an additional 348 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its position in Sealed Air by 0.8% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after purchasing an additional 350 shares in the last quarter. Choreo LLC grew its position in shares of Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock worth $331,000 after buying an additional 351 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of Sealed Air by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock worth $306,000 after buying an additional 375 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

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Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of the firm'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 completion of the acquisition, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on SEE shares. Morgan Stanley lowered their price target on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a research note on Tuesday, March 4th. Mizuho cut their price target on Sealed Air from $45.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price target on Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Truist Financial increased their price objective on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating, seven have given 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 target price of $40.25.

Sealed Air Stock Performance

NYSE SEE traded down $2.70 on Friday, reaching $24.39. The stock had a trading volume of 3,464,529 shares, compared to its average volume of 1,495,084. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market cap of $3.55 billion, a P/E ratio of 8.97 and a beta of 1.32. The business's 50-day moving average price is $31.89 and its 200 day moving average price is $34.17. Sealed Air Co. has a 12-month low of $24.35 and a 12-month high of $41.14.

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

Sealed Air Announces Dividend

The business also recently disclosed 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. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is presently 44.20%.

Sealed Air Company 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.