Raymond James Financial Inc. Buys New Shares in 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 its most recent 13F filing with the SEC. The firm purchased 497,823 shares of the industrial products company's stock, valued at approximately $16,841,000. Raymond James Financial Inc. owned about 0.34% of Sealed Air at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Arizona State Retirement System raised its holdings in Sealed Air by 0.8% during 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 buying an additional 348 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Sealed Air in the fourth quarter valued at about $717,000. Atria Investments Inc raised its stake in shares of Sealed Air by 9.2% during the fourth quarter. Atria Investments Inc now owns 37,108 shares of the industrial products company's stock valued at $1,255,000 after acquiring an additional 3,129 shares during the last quarter. Assetmark Inc. grew its position in shares of Sealed Air by 4.3% in the 4th quarter. Assetmark Inc. now owns 57,959 shares of the industrial products company's stock worth $1,961,000 after buying an additional 2,389 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of 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 valued at $68,182,000 after buying an additional 920,000 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

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Sealed Air Stock Down 1.6 %

SEE stock traded down $0.47 during midday trading on Friday, hitting $29.08. The company's stock had a trading volume of 7,013,932 shares, compared to its average volume of 1,438,271. The firm's 50-day moving average is $33.21 and its 200-day moving average is $34.57. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12 month low of $28.67 and a 12 month high of $41.14. The company has a market cap of $4.24 billion, a PE ratio of 10.69 and a beta of 1.32.

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, beating 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 company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm posted $0.88 earnings per share. Sealed Air's revenue was down .4% compared to the same quarter last year. On average, equities research analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SEE. UBS Group lifted their price target on shares of Sealed Air from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Citigroup lowered their price objective on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a report on Monday, January 6th. Mizuho reduced their target price on Sealed Air from $45.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. 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 note 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Insider Buying and Selling

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

Sealed Air 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.