Baird Financial Group Inc. Sells 2,251 Shares of Sealed Air Co. (NYSE:SEE)

Baird Financial Group Inc. lowered its position in shares of Sealed Air Co. (NYSE:SEEGet Rating) by 8.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,503 shares of the industrial products company’s stock after selling 2,251 shares during the period. Baird Financial Group Inc.’s holdings in Sealed Air were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Sealed Air by 8.8% in the 1st quarter. BlackRock Inc. now owns 20,006,898 shares of the industrial products company’s stock valued at $1,339,661,000 after buying an additional 1,613,020 shares during the last quarter. Bank of America Corp DE grew its position in shares of Sealed Air by 13.0% in the 1st quarter. Bank of America Corp DE now owns 3,635,752 shares of the industrial products company’s stock valued at $243,450,000 after buying an additional 417,485 shares during the last quarter. Todd Asset Management LLC bought a new stake in shares of Sealed Air in the 2nd quarter valued at about $18,579,000. Victory Capital Management Inc. grew its position in shares of Sealed Air by 24.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,606,581 shares of the industrial products company’s stock valued at $92,733,000 after buying an additional 319,528 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Sealed Air by 93.7% in the 1st quarter. Renaissance Technologies LLC now owns 583,221 shares of the industrial products company’s stock valued at $39,052,000 after buying an additional 282,200 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America dropped their price objective on Sealed Air from $65.00 to $54.00 in a research note on Thursday, October 13th. Robert W. Baird dropped their price objective on Sealed Air to $67.00 in a research note on Tuesday, August 9th. StockNews.com assumed coverage on Sealed Air in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Citigroup dropped their price objective on Sealed Air from $70.00 to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, October 11th. Finally, Truist Financial dropped their price objective on Sealed Air from $73.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, September 29th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.45.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $51.14 on Friday. The company has a market cap of $7.40 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 2.29 and a beta of 1.20. Sealed Air Co. has a 52 week low of $41.24 and a 52 week high of $70.72. The business has a 50 day moving average price of $47.00 and a 200-day moving average price of $54.79. The company has a quick ratio of 0.57, a current ratio of 1.08 and a debt-to-equity ratio of 14.83.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 1st. Sealed Air’s dividend payout ratio (DPR) is presently 20.57%.

Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer acquired 500 shares of the stock in a transaction dated Friday, August 26th. The stock was purchased at an average cost of $55.25 per share, with a total value of $27,625.00. Following the completion of the purchase, the director now directly owns 20,763 shares in the company, valued at approximately $1,147,155.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Sealed Air news, Director Henry R. Keizer bought 500 shares of Sealed Air stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $55.25 per share, with a total value of $27,625.00. Following the completion of the acquisition, the director now directly owns 20,763 shares in the company, valued at approximately $1,147,155.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Emile Z. Chammas bought 1,000 shares of Sealed Air stock in a transaction dated Wednesday, August 31st. The stock was acquired at an average cost of $54.08 per share, with a total value of $54,080.00. Following the completion of the acquisition, the chief operating officer now owns 208,161 shares of the company’s stock, valued at $11,257,346.88. The disclosure for this purchase can be found here. Insiders purchased a total of 3,700 shares of company stock valued at $176,579 over the last ninety days. 0.44% of the stock is currently owned by insiders.

Sealed Air Company Profile

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

See Also

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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