Sealed Air Co. (NYSE:SEE) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in shares of Sealed Air Co. (NYSE:SEE) by 978.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,062 shares of the industrial products company’s stock after purchasing an additional 17,295 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sealed Air were worth $635,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kwmg LLC increased its position in shares of Sealed Air by 5.0% during the 4th quarter. Kwmg LLC now owns 136,537 shares of the industrial products company’s stock worth $4,619,000 after purchasing an additional 6,527 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Sealed Air during the 3rd quarter worth about $1,497,000. Maple Rock Capital Partners Inc. increased its position in shares of Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after purchasing an additional 548,493 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Sealed Air by 13.8% during the 4th quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company’s stock worth $2,687,000 after purchasing an additional 9,634 shares during the last quarter. Finally, Commerce Bank increased its position in shares of Sealed Air by 67.6% during the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 14,766 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Performance

Shares of SEE opened at $32.13 on Tuesday. The stock has a 50-day simple moving average of $34.17 and a 200-day simple moving average of $34.90. 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 stock has a market capitalization of $4.68 billion, a PE ratio of 11.81 and a beta of 1.34. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, March 14th. Sealed Air’s payout ratio is presently 29.41%.

Analyst Ratings Changes

SEE has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company 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 report on Tuesday, January 7th. Truist Financial raised their target price on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, UBS Group lowered their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

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.