Alliancebernstein L.P. Purchases 643,489 Shares of Sealed Air Co. (NYSE:SEE)

Alliancebernstein L.P. boosted its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 618.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 747,468 shares of the industrial products company's stock after purchasing an additional 643,489 shares during the quarter. Alliancebernstein L.P. owned about 0.51% of Sealed Air worth $25,287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC raised its stake 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 purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC raised its position 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 worth $45,000 after buying an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air during the 4th quarter valued at about $45,000. Smartleaf Asset Management LLC boosted its holdings in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 913 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after acquiring an additional 712 shares during the period. 94.40% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SEE. Wells Fargo & Company increased their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Citigroup lowered their price target on Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Truist Financial lifted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Mizuho lowered 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, Jefferies Financial Group set a $36.00 price target on Sealed Air in a research note on Tuesday, March 4th. Five research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.25.

Sealed Air Stock Performance

Sealed Air stock traded up $0.70 during midday trading on Friday, hitting $25.96. The stock had a trading volume of 1,924,683 shares, compared to its average volume of 1,533,165. 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 52-week low of $22.78 and a 52-week high of $41.14. The company has a market capitalization of $3.78 billion, a PE ratio of 9.54 and a beta of 1.35. The firm's fifty day moving average is $30.54 and its two-hundred day moving average is $33.69.

Sealed Air (NYSE:SEE - Get Free Report) last announced 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. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The company's revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. On average, research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Insider Buying and Selling

In related news, Director Henry R. Keizer purchased 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 owns 35,000 shares in the company, valued at approximately $1,050,000. The trade was a 3.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.