Prudential Financial Inc. Cuts Stock Holdings in Sealed Air Co. (NYSE:SEE)

Prudential Financial Inc. cut its stake in shares of Sealed Air Co. (NYSE:SEE) by 36.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,148 shares of the industrial products company’s stock after selling 83,292 shares during the period. Prudential Financial Inc. owned 0.10% of Sealed Air worth $4,944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SEE. Manchester Capital Management LLC raised its holdings 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 worth $41,000 after purchasing an additional 700 shares during the period. GAMMA Investing LLC raised its holdings in Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock valued at $45,000 after buying an additional 907 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sealed Air during the fourth quarter valued at approximately $45,000. Smartleaf Asset Management LLC grew its stake in Sealed Air by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock worth $51,000 after buying an additional 913 shares during the period. Finally, Jones Financial Companies Lllp increased 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 acquiring an additional 778 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Stock Down 0.4 %

NYSE:SEE opened at $28.90 on Tuesday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.62 and a beta of 1.32. Sealed Air Co. has a one year low of $28.37 and a one year high of $41.14. The stock has a 50-day simple moving average of $32.53 and a 200 day simple moving average of $34.36.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts predict that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.77%. Sealed Air’s dividend payout ratio (DPR) is 44.20%.

Insiders Place Their Bets

In related news, Director Henry R. Keizer purchased 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $30.00 per share, with a total value of $33,600.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SEE. Morgan Stanley decreased their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company increased their target price on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. UBS Group boosted their price target on Sealed Air from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research report on Tuesday, March 4th. Finally, StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

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.