Vanguard Group Inc. Purchases 2,754,395 Shares of Sealed Air Co. (NYSE:SEE)

Vanguard Group Inc. lifted its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,330,381 shares of the industrial products company's stock after acquiring an additional 2,754,395 shares during the quarter. Vanguard Group Inc. owned 12.58% of Sealed Air worth $620,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Manchester Capital Management LLC boosted its position in shares of Sealed Air by 139.4% in the 4th 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 during the period. GAMMA Investing LLC grew its position in Sealed Air by 218.0% during the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock worth $45,000 after purchasing an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sealed Air during the 4th quarter valued at $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 valued at $51,000 after purchasing an additional 913 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Sealed Air by 98.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company's stock worth $53,000 after buying an additional 778 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SEE shares. Mizuho dropped their price target on Sealed Air from $45.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Citigroup reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, January 6th. UBS Group raised their price target on shares of Sealed Air from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Truist Financial lifted their target price 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. Six investment 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.25.

Sealed Air Stock Down 10.0 %

Sealed Air stock traded down $2.70 during mid-day trading on Friday, hitting $24.39. 3,464,529 shares of the company's stock were exchanged, compared to its average volume of 1,494,893. Sealed Air Co. has a 1-year low of $24.36 and a 1-year high of $41.14. The stock has a 50 day moving average of $31.89 and a two-hundred day moving average of $34.17. The stock has a market cap of $3.55 billion, a P/E ratio of 8.97 and a beta of 1.32. 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 (NYSE:SEE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $1.37 billion for 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 firm's revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. As a group, analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is currently 44.20%.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the purchase, the director now owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.