Bank of America Corp DE Trims Stake in Sealed Air Co. (NYSE:SEE)

Bank of America Corp DE lessened its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,450,869 shares of the industrial products company's stock after selling 105,751 shares during the period. Bank of America Corp DE owned 2.37% of Sealed Air worth $116,743,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SEE. Vanguard Group Inc. increased its holdings in shares of Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after buying an additional 2,754,395 shares during the last quarter. Invesco Ltd. increased its stake in Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock valued at $128,176,000 after acquiring an additional 1,549,184 shares during the last quarter. Norges Bank purchased a new stake in Sealed Air during the fourth quarter valued at about $50,562,000. T. Rowe Price Investment Management Inc. raised its position in Sealed Air by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after purchasing an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Sealed Air by 84.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock worth $68,182,000 after purchasing an additional 920,000 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Wall Street Analysts Forecast Growth

SEE has been the subject of a number of recent research reports. Raymond James dropped their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a report on Tuesday, March 4th. StockNews.com upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. UBS Group upgraded shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target for the company in a research report on Monday, April 7th. Finally, Truist Financial decreased their price objective on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Insiders Place Their Bets

In other news, Director Henry R. Keizer bought 1,120 shares of Sealed Air stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the acquisition, the director now owns 35,000 shares of the company's stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by company insiders.

Sealed Air Trading Down 0.5 %

NYSE SEE opened at $30.59 on Friday. 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 Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The stock has a market cap of $4.49 billion, a P/E ratio of 11.25 and a beta of 1.35. The stock has a 50 day simple moving average of $28.19 and a two-hundred day simple moving average of $32.57.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. On average, analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, March 14th. Sealed Air's payout ratio is currently 44.20%.

Sealed Air Profile

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.

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