Sealed Air Corporation (NYSE:SEE) Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC grew its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 200.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the industrial products company's stock after purchasing an additional 40,000 shares during the quarter. Manning & Napier Advisors LLC's holdings in Sealed Air were worth $1,734,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Sealed Air during the 4th quarter valued at about $27,000. Brown Brothers Harriman & Co. raised 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 purchasing an additional 712 shares during the period. Smartleaf Asset Management LLC boosted its holdings in 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 valued at $51,000 after purchasing an additional 913 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Sealed Air by 98.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,569 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 778 shares during the last quarter. Finally, CX Institutional purchased a new stake in shares of Sealed Air in the 1st quarter valued at approximately $52,000. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Down 0.5%

NYSE:SEE traded down $0.14 on Friday, reaching $31.23. 1,909,894 shares of the company's stock were exchanged, compared to its average volume of 1,544,865. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 2.82 and a beta of 1.37. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. The business has a fifty day moving average of $30.59 and a 200-day moving average of $31.59.

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

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.56%. Sealed Air's payout ratio is 39.60%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group raised shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a research report on Monday, April 7th. Raymond James Financial cut their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 22nd. Mizuho reduced their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Truist Financial decreased their price target on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.00.

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.