Bessemer Group Inc. Reduces Stock Holdings in Sealed Air Corporation (NYSE:SEE)

Bessemer Group Inc. trimmed its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 66.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 30,568 shares of the industrial products company's stock after selling 60,230 shares during the period. Bessemer Group Inc.'s holdings in Sealed Air were worth $884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Sealed Air during the 4th quarter worth $27,000. Smartleaf Asset Management LLC lifted its position in Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company's stock valued at $51,000 after buying an additional 913 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake 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 worth $51,000 after buying an additional 712 shares during the period. CX Institutional acquired a new stake in shares of Sealed Air during the first quarter valued at about $52,000. Finally, Jones Financial Companies Lllp increased its position in shares of Sealed Air by 98.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 778 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SEE. Raymond James Financial lowered their price objective on shares of 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. Truist Financial lowered their price target on Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a report on Monday, April 7th. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Mizuho lowered their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Sealed Air Stock Down 0.9%

Shares of Sealed Air stock traded down $0.30 on Friday, reaching $32.55. 849,669 shares of the company were exchanged, compared to its average volume of 1,549,598. The stock's 50 day moving average price is $31.21 and its 200-day moving average price is $31.42. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.26 and a quick ratio of 0.76. Sealed Air Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The company has a market cap of $4.79 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.35.

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

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, June 13th. Sealed Air's dividend payout ratio is presently 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.