Sealed Air Co. (NYSE:SEE) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 497,031 shares of the industrial products company's stock after selling 38,616 shares during the period. Envestnet Asset Management Inc. owned approximately 0.34% of Sealed Air worth $16,815,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of Sealed Air by 148.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock worth $51,000 after acquiring an additional 913 shares during the period. A&I Financial Services LLC acquired a new stake in Sealed Air in the fourth quarter valued at $527,000. Kwmg LLC grew its holdings in Sealed Air by 5.0% in the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company's stock valued at $4,619,000 after purchasing an additional 6,527 shares during the last quarter. Amundi increased its position in shares of Sealed Air by 131.6% in the fourth quarter. Amundi now owns 76,479 shares of the industrial products company's stock valued at $2,576,000 after buying an additional 43,458 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sealed Air by 90.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after buying an additional 715,668 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEE has been the subject of several recent research reports. Truist Financial raised their target price on shares of Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a report on Monday, January 6th. Morgan Stanley reduced their target price on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Citigroup cut their target price on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on shares of Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.42.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer bought 1,120 shares of the stock in a transaction dated 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 purchase, the director now owns 35,000 shares in the company, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Sealed Air Trading Up 2.0 %

Shares of SEE traded up $0.53 during trading hours on Friday, hitting $26.40. The stock had a trading volume of 1,324,158 shares, compared to its average volume of 1,537,577. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The firm has a market cap of $3.85 billion, a P/E ratio of 9.71 and a beta of 1.35. 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 company's fifty day simple moving average is $29.74 and its 200 day simple moving average is $33.33.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The company's revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is presently 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.