Sealed Air Co. (NYSE:SEE) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 168.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,785 shares of the industrial products company's stock after buying an additional 292,826 shares during the period. Wellington Management Group LLP owned 0.32% of Sealed Air worth $15,791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Manchester Capital Management LLC boosted its holdings in shares of Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock worth $41,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Sealed Air during the fourth quarter valued at $45,000. GAMMA Investing LLC boosted its position in shares of Sealed Air by 218.0% during 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. lifted its stake in Sealed Air by 89.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after purchasing an additional 712 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after buying an additional 913 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

SEE has been the topic of several recent research reports. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Bank of America reduced their price target on Sealed Air from $42.00 to $39.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. UBS Group upgraded shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price on the stock in a report on Monday, April 7th. Truist Financial upped their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Citigroup reduced their target price on Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.25.

Insiders Place Their Bets

In other Sealed Air news, Director Henry R. Keizer bought 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the acquisition, the director now directly owns 35,000 shares in the company, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Sealed Air Stock Up 2.0 %

Shares of SEE traded up $0.53 during midday trading on Monday, reaching $26.47. 81,867 shares of the stock were exchanged, compared to its average volume of 1,711,962. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $3.86 billion, a P/E ratio of 9.73 and a beta of 1.35. The company's 50 day moving average is $30.54 and its two-hundred day moving average is $33.67. Sealed Air Co. has a 52 week low of $22.78 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results 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 firm had revenue of $1.37 billion during 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 revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, sell-side analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.02%. Sealed Air's dividend payout ratio (DPR) 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.