Nuveen Asset Management LLC Cuts Holdings in Sealed Air Co. (NYSE:SEE)

Nuveen Asset Management LLC cut its position in Sealed Air Co. (NYSE:SEE - Free Report) by 34.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 391,864 shares of the industrial products company's stock after selling 206,077 shares during the quarter. Nuveen Asset Management LLC owned about 0.27% of Sealed Air worth $13,257,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Sealed Air in the 4th quarter valued at $737,000. Geneos Wealth Management Inc. raised its holdings in Sealed Air by 339.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 6,542 shares of the industrial products company's stock valued at $221,000 after acquiring an additional 5,054 shares in the last quarter. KBC Group NV raised its holdings in Sealed Air by 46.6% in the 4th quarter. KBC Group NV now owns 6,737 shares of the industrial products company's stock valued at $228,000 after acquiring an additional 2,142 shares in the last quarter. Swedbank AB raised its holdings in Sealed Air by 57.3% in the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock valued at $78,678,000 after acquiring an additional 846,882 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Sealed Air in the 4th quarter valued at $677,000. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Trading Down 0.7%

SEE stock traded down $0.22 during trading on Wednesday, hitting $32.47. The company had a trading volume of 937,135 shares, compared to its average volume of 1,562,543. The business has a 50-day moving average of $28.67 and a 200-day moving average of $32.23. 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 $4.77 billion, a PE ratio of 11.94 and a beta of 1.35. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE - Get Free Report) last announced its 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. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. Research analysts predict that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, with a total value 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 is available at the SEC website. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company boosted their target price on Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Mizuho reduced their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price target on the stock in a report on Monday, April 7th. Raymond James reduced their price target on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial reduced their price target on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 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.