Ameriprise Financial Inc. Decreases Stake in Sealed Air Co. (NYSE:SEE)

Ameriprise Financial Inc. lessened its stake in Sealed Air Co. (NYSE:SEE) by 15.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 391,502 shares of the industrial products company’s stock after selling 71,434 shares during the quarter. Ameriprise Financial Inc. owned 0.27% of Sealed Air worth $13,245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SEE. Vanguard Group Inc. boosted its stake in shares of Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock valued at $620,117,000 after buying an additional 2,754,395 shares during the period. Invesco Ltd. raised its position in shares of 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 in the last quarter. Norges Bank acquired a new stake in shares of Sealed Air during the 4th quarter worth about $50,562,000. T. Rowe Price Investment Management Inc. raised its position in shares of Sealed Air by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company’s stock worth $416,657,000 after acquiring an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. raised 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 worth $68,182,000 after acquiring an additional 920,000 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SEE shares. Mizuho cut their target price on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Truist Financial cut their target price on Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their target price on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group set a $36.00 price target on Sealed Air in a research report on Tuesday, March 4th. Finally, StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.00.

Insider Activity at Sealed Air

In other news, Director Henry R. Keizer purchased 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at $1,050,000. This represents a 3.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Sealed Air Trading Up 1.9%

NYSE:SEE opened at $32.35 on Friday. The firm has a market cap of $4.76 billion, a P/E ratio of 11.89 and a beta of 1.35. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock’s 50 day simple moving average is $28.28 and its 200-day simple moving average is $32.42. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.20 dividend. 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 2.47%. Sealed Air’s dividend payout ratio (DPR) is presently 39.60%.

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.