Bank of Nova Scotia Sells 43,903 Shares of Sealed Air Co. (NYSE:SEE)

Bank of Nova Scotia decreased its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 54.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,300 shares of the industrial products company's stock after selling 43,903 shares during the period. Bank of Nova Scotia's holdings in Sealed Air were worth $1,262,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, Director Henry R. Keizer purchased 1,120 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SEE shares. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price for the company in a report on Monday, April 7th. Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Mizuho decreased their price target on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday. StockNews.com raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Finally, Citigroup lowered their target price on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sealed Air currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.42.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.53 during trading on Friday, reaching $26.40. The company had a trading volume of 1,324,158 shares, compared to its average volume of 1,534,693. Sealed Air Co. has a 12 month low of $22.78 and a 12 month high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $3.85 billion, a P/E ratio of 9.71 and a beta of 1.35. The company has a fifty day moving average of $29.90 and a two-hundred day moving average of $33.43.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping 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 company's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities research analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air's dividend payout ratio is currently 44.20%.

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.