Canada Pension Plan Investment Board Purchases New Position in Sealed Air Co. (NYSE:SEE)

Canada Pension Plan Investment Board bought a new position in Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 90,200 shares of the industrial products company's stock, valued at approximately $3,051,000. Canada Pension Plan Investment Board owned about 0.06% of Sealed Air as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SEE. Manchester Capital Management LLC lifted its position in Sealed Air by 139.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Sealed Air during the fourth quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 907 shares during the period. Brown Brothers Harriman & Co. lifted its position in Sealed Air by 89.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 712 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Sealed Air by 148.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 913 shares during the period. Institutional investors own 94.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on SEE. Citigroup reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a report on Monday, January 6th. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a report on Tuesday, March 4th. Raymond James reduced their target price on shares of Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 22nd. Bank of America reduced their target price on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Truist Financial reduced their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Sealed Air Price Performance

Shares of NYSE:SEE traded up $0.10 during midday trading on Monday, reaching $27.74. 1,477,846 shares of the company were exchanged, compared to its average volume of 1,543,076. 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 business's fifty day moving average is $28.94 and its two-hundred day moving average is $33.01. Sealed Air Co. has a one year low of $22.78 and a one year high of $41.14. The stock has a market cap of $4.08 billion, a PE ratio of 10.20 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. Sealed Air's revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.88%. Sealed Air's dividend payout ratio (DPR) is currently 44.20%.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company's stock, valued at $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Sealed Air Company 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.