Bank of New York Mellon Corp Has $41.03 Million Stock Position in Sealed Air Corporation (NYSE:SEE)

Bank of New York Mellon Corp cut its holdings in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,419,674 shares of the industrial products company's stock after selling 19,394 shares during the period. Bank of New York Mellon Corp owned 0.97% of Sealed Air worth $41,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SEE. Vanguard Group Inc. raised its position 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 valued at $620,117,000 after acquiring an additional 2,754,395 shares during the period. Invesco Ltd. raised its stake in Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after buying an additional 1,549,184 shares during the period. Norges Bank bought a new position in Sealed Air during the fourth quarter worth about $50,562,000. T. Rowe Price Investment Management Inc. grew its stake in Sealed Air by 9.6% in 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 acquiring an additional 1,081,848 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Sealed Air by 90.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,510,529 shares of the industrial products company's stock worth $51,101,000 after acquiring an additional 715,668 shares in the last quarter. Institutional investors own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SEE shares. Citigroup boosted their price objective on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Truist Financial upped their price target on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. UBS Group upped their target price on shares of Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Sealed Air in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.27.

Sealed Air Stock Up 1.3%

Shares of Sealed Air stock traded up $0.40 during trading hours on Thursday, reaching $31.42. 1,542,956 shares of the company's stock were exchanged, compared to its average volume of 1,544,344. The stock has a market cap of $4.62 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.83 and a beta of 1.35. The company has a 50 day moving average of $31.81 and a two-hundred day moving average of $31.30. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 5.26. Sealed Air Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. On average, sell-side analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. Sealed Air's payout ratio is 39.60%.

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.