Rhumbline Advisers Sells 4,072 Shares of Sealed Air Co. (NYSE:SEE)

Rhumbline Advisers cut its stake in shares of Sealed Air Co. (NYSE:SEE) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 345,239 shares of the industrial products company’s stock after selling 4,072 shares during the period. Rhumbline Advisers’ holdings in Sealed Air were worth $11,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEE. Vontobel Holding Ltd. boosted its position in shares of Sealed Air by 7.5% in the fourth quarter. Vontobel Holding Ltd. now owns 23,435 shares of the industrial products company’s stock worth $793,000 after purchasing an additional 1,635 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Sealed Air by 978.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,062 shares of the industrial products company’s stock valued at $635,000 after buying an additional 17,295 shares in the last quarter. Thompson Investment Management Inc. boosted its holdings in Sealed Air by 1.4% in the 4th quarter. Thompson Investment Management Inc. now owns 73,769 shares of the industrial products company’s stock worth $2,496,000 after buying an additional 990 shares during the period. GHP Investment Advisors Inc. increased its stake in Sealed Air by 4.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 42,373 shares of the industrial products company’s stock worth $1,433,000 after buying an additional 1,748 shares in the last quarter. Finally, Choreo LLC raised its holdings in Sealed Air by 3.7% during the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 351 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of NYSE:SEE opened at $32.32 on Monday. The firm has a fifty day simple moving average of $34.25 and a two-hundred day simple moving average of $34.92. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. 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 capitalization of $4.71 billion, a P/E ratio of 11.88 and a beta of 1.34.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.48%. Sealed Air’s payout ratio is currently 29.41%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SEE. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group cut their price objective 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. Morgan Stanley lowered their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Bank of America cut their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sealed Air has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

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.