Sealed Air Co. (NYSE:SEE) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in Sealed Air Co. (NYSE:SEEGet Rating) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,700 shares of the industrial products company’s stock after acquiring an additional 1,113 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Sealed Air worth $6,073,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SEE. BlackRock Inc. increased its stake in Sealed Air by 13.0% in the 4th quarter. BlackRock Inc. now owns 18,393,878 shares of the industrial products company’s stock valued at $1,241,033,000 after buying an additional 2,114,602 shares during the period. Nuveen Asset Management LLC increased its stake in Sealed Air by 230.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,609,512 shares of the industrial products company’s stock valued at $108,594,000 after buying an additional 1,122,961 shares during the period. Kensico Capital Management Corp increased its stake in Sealed Air by 33.8% in the 4th quarter. Kensico Capital Management Corp now owns 4,193,157 shares of the industrial products company’s stock valued at $282,912,000 after buying an additional 1,058,900 shares during the period. Millennium Management LLC boosted its position in shares of Sealed Air by 824.3% during the 4th quarter. Millennium Management LLC now owns 552,042 shares of the industrial products company’s stock worth $37,246,000 after purchasing an additional 492,314 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Sealed Air during the 4th quarter worth $32,042,000. 90.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEE has been the topic of several research analyst reports. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $80.00 to $64.00 in a research report on Wednesday, July 20th. JPMorgan Chase & Co. lowered shares of Sealed Air from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $71.00 to $62.00 in a research report on Wednesday, June 1st. Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research report on Thursday, July 7th. Morgan Stanley decreased their target price on shares of Sealed Air from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, August 4th. Finally, Royal Bank of Canada upgraded shares of Sealed Air from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $66.00 to $70.00 in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.33.

Sealed Air Trading Down 1.2 %

NYSE SEE opened at $56.42 on Wednesday. The company has a 50-day moving average of $58.61 and a 200-day moving average of $63.30. The company has a market cap of $8.19 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.71 and a beta of 1.14. Sealed Air Co. has a 12 month low of $54.51 and a 12 month high of $70.72. The company has a debt-to-equity ratio of 18.30, a current ratio of 1.34 and a quick ratio of 0.72.

Sealed Air (NYSE:SEEGet Rating) last posted its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, equities analysts predict that Sealed Air Co. will post 4.16 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, June 9th. Sealed Air’s dividend payout ratio (DPR) is presently 21.74%.

Insider Buying and Selling

In other news, SVP Sergio A. Pupkin acquired 1,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $57.66 per share, with a total value of $57,660.00. Following the completion of the transaction, the senior vice president now directly owns 45,748 shares of the company’s stock, valued at $2,637,829.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Edward L. Doheny II acquired 4,500 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $56.95 per share, with a total value of $256,275.00. Following the completion of the transaction, the chief executive officer now directly owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sergio A. Pupkin acquired 1,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $57.66 per share, with a total value of $57,660.00. Following the transaction, the senior vice president now directly owns 45,748 shares of the company’s stock, valued at $2,637,829.68. The disclosure for this purchase can be found here. Corporate insiders own 0.44% of the company’s stock.

About Sealed Air

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

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