Sterling Capital Management LLC Acquires 2,894 Shares of Sealed Air Co. (NYSE:SEE)

Sterling Capital Management LLC increased its holdings in shares of Sealed Air Co. (NYSE:SEE) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,283 shares of the industrial products company’s stock after acquiring an additional 2,894 shares during the quarter. Sterling Capital Management LLC’s holdings in Sealed Air were worth $280,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Sealed Air by 17.7% during the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock worth $620,117,000 after purchasing an additional 2,754,395 shares during the period. Invesco Ltd. increased its stake in Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock worth $128,176,000 after acquiring an additional 1,549,184 shares during the period. Swedbank AB raised its holdings in Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after acquiring an additional 846,882 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock valued at $68,182,000 after acquiring an additional 920,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Sealed Air by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after purchasing an additional 32,976 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Mizuho dropped their price target on Sealed Air from $39.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Citigroup dropped their target price 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 upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, April 7th. Wells Fargo & Company upped their target price on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Truist Financial lifted 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. Five 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.42.

Insider Buying and Selling

In related news, Director Henry R. Keizer bought 1,120 shares of Sealed Air stock in a transaction that occurred on 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 acquisition, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by insiders.

Sealed Air Price Performance

Shares of SEE opened at $26.40 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The stock has a market cap of $3.85 billion, a PE ratio of 9.71 and a beta of 1.35. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The business has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $33.33.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.03%. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

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.