Bank of Montreal Can Purchases 310,277 Shares of Sealed Air Co. (NYSE:SEE)

Bank of Montreal Can raised its position in Sealed Air Co. (NYSE:SEE - Free Report) by 120.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 566,918 shares of the industrial products company's stock after buying an additional 310,277 shares during the quarter. Bank of Montreal Can owned about 0.39% of Sealed Air worth $19,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC raised 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 valued at $41,000 after purchasing an additional 700 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sealed Air during the 4th quarter worth $45,000. Smartleaf Asset Management LLC lifted its position 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 worth $51,000 after buying an additional 913 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in 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 valued at $51,000 after buying an additional 712 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

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Sealed Air Trading Down 1.0 %

NYSE SEE traded down $0.27 during mid-day trading on Wednesday, reaching $25.87. 975,981 shares of the stock were exchanged, compared to its average volume of 1,536,540. The stock has a market cap of $3.77 billion, a P/E ratio of 9.51 and a beta of 1.35. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The stock has a 50 day simple moving average of $30.21 and a 200-day simple moving average of $33.55.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $0.88 EPS. The business's quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio (DPR) is 44.20%.

Analyst Ratings Changes

SEE has been the subject of several research analyst reports. Morgan Stanley lowered their target price on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Wells Fargo & Company raised their target price 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. Truist Financial increased their price target on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Bank of America lowered their target price on Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Citigroup cut their price target 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 equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of "Moderate Buy" and an average price target of $39.42.

Insider Activity

In related news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company's stock, valued at $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

About Sealed Air

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.