Raymond James Financial Inc. Buys Shares of 497,823 Sealed Air Co. (NYSE:SEE)

Raymond James Financial Inc. purchased a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 497,823 shares of the industrial products company's stock, valued at approximately $16,841,000. Raymond James Financial Inc. owned approximately 0.34% of Sealed Air at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Manchester Capital Management LLC boosted its position in Sealed Air by 139.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock worth $41,000 after purchasing an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Sealed Air in the 4th quarter worth about $45,000. GAMMA Investing LLC grew its stake in Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 907 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 712 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Sealed Air by 148.0% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 94.40% of the company's stock.

Insider Buying and Selling

In other news, Director Henry R. Keizer purchased 1,120 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SEE shares. Citigroup dropped their price objective on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Mizuho dropped their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Bank of America cut 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. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Finally, Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.00.

Sealed Air Trading Up 0.2 %

Sealed Air stock traded up $0.06 during trading on Wednesday, reaching $26.79. The company had a trading volume of 1,468,159 shares, compared to its average volume of 1,535,689. 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 firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 9.85 and a beta of 1.35. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The stock's 50 day moving average price is $29.44 and its two-hundred day moving average price is $33.22.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company's quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. As a group, equities analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend 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.