Van ECK Associates Corp Sells 48,740 Shares of Sealed Air Co. (NYSE:SEE)

Van ECK Associates Corp lowered its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 35.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,446 shares of the industrial products company's stock after selling 48,740 shares during the period. Van ECK Associates Corp owned about 0.06% of Sealed Air worth $3,026,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SEE. GAMMA Investing LLC increased its position in shares of Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock worth $45,000 after acquiring an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sealed Air in the fourth quarter worth approximately $45,000. Quarry LP increased its position in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company's stock worth $134,000 after acquiring an additional 311 shares in the last quarter. KBC Group NV increased its position in shares of Sealed Air by 20.1% in the third quarter. KBC Group NV now owns 4,595 shares of the industrial products company's stock worth $167,000 after acquiring an additional 769 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in shares of Sealed Air in the third quarter worth approximately $212,000. Institutional investors and hedge funds own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Sealed Air from $44.00 to $42.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Mizuho decreased their price target on shares of Sealed Air from $45.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. UBS Group decreased their price target on shares of Sealed Air from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Friday, January 10th. Finally, Truist Financial raised their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sealed Air currently has an average rating of "Moderate Buy" and an average price target of $40.00.

Sealed Air Stock Performance

Shares of Sealed Air stock traded down $0.74 on Friday, reaching $32.32. The stock had a trading volume of 1,645,627 shares, compared to its average volume of 1,145,855. The business's 50-day moving average price is $34.25 and its two-hundred day moving average price is $34.92. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The stock has a market cap of $4.71 billion, a P/E ratio of 11.88 and a beta of 1.34.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. Sealed Air's payout ratio is 29.41%.

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.