Wells Fargo & Company MN Grows Position in Sealed Air Co. (NYSE:SEE)

Wells Fargo & Company MN raised its position in Sealed Air Co. (NYSE:SEE) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569,378 shares of the industrial products company’s stock after buying an additional 1,347 shares during the quarter. Wells Fargo & Company MN owned approximately 0.39% of Sealed Air worth $19,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Arizona State Retirement System raised its position in Sealed Air by 0.8% in the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company’s stock valued at $1,430,000 after purchasing an additional 348 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of Sealed Air by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company’s stock valued at $1,470,000 after buying an additional 350 shares during the last quarter. Choreo LLC raised its holdings in shares of Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock valued at $331,000 after buying an additional 351 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Sealed Air by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company’s stock worth $306,000 after buying an additional 375 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of Sealed Air by 3.3% during the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company’s stock worth $399,000 after buying an additional 377 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Up 2.8 %

SEE stock opened at $25.96 on Monday. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The stock has a market capitalization of $3.78 billion, a P/E ratio of 9.54 and a beta of 1.35. The company has a 50 day moving average price of $30.54 and a two-hundred day moving average price of $33.67. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed 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 was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. Sealed Air’s payout ratio is 44.20%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SEE. Bank of America decreased their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research note on Tuesday, March 4th. Morgan Stanley reduced their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, UBS Group upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.25.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This represents a 3.31 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

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.