CIBC Asset Management Inc Raises Position in Sealed Air Co. (NYSE:SEE)

CIBC Asset Management Inc raised its holdings in shares of Sealed Air Co. (NYSE:SEE) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,557 shares of the industrial products company’s stock after buying an additional 596 shares during the quarter. CIBC Asset Management Inc’s holdings in Sealed Air were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SEE. Manchester Capital Management LLC increased its position in shares of Sealed Air by 139.4% in the fourth 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 last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sealed Air in the 4th quarter worth about $45,000. GAMMA Investing LLC raised its stake in shares of Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 907 shares in the last quarter. Quarry LP lifted its holdings in shares of Sealed Air by 9.2% in the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 311 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Sealed Air by 20.1% in the 3rd quarter. KBC Group NV now owns 4,595 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SEE. Citigroup decreased their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho lowered their target price on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Bank of America reduced their price target on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered 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 report on Monday, January 13th. Finally, UBS Group lowered their price target on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Sealed Air Stock Down 2.2 %

Shares of NYSE:SEE opened at $32.32 on Monday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 11.88 and a beta of 1.34. The stock has a 50 day moving average price of $34.25 and a 200-day moving average price 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 debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29.

Sealed Air Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s dividend payout ratio is presently 29.41%.

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.