Sealed Air Co. (NYSE:SEE) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 52.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,085,758 shares of the industrial products company's stock after selling 1,174,227 shares during the quarter. Hsbc Holdings PLC owned approximately 0.75% of Sealed Air worth $36,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Tennessee Department of Treasury grew its holdings in Sealed Air by 7.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 73,600 shares of the industrial products company's stock worth $2,490,000 after purchasing an additional 5,023 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Sealed Air by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after purchasing an additional 178,592 shares during the last quarter. First Trust Advisors LP grew its position in shares of Sealed Air by 122.3% during the 4th quarter. First Trust Advisors LP now owns 353,971 shares of the industrial products company's stock valued at $11,975,000 after acquiring an additional 194,736 shares during the period. Callodine Capital Management LP bought a new position in Sealed Air during the fourth quarter valued at $677,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Sealed Air in the 4th quarter worth about $3,051,000. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Price Performance

SEE traded down $0.13 during trading on Thursday, reaching $27.43. The company's stock had a trading volume of 371,016 shares, compared to its average volume of 1,692,915. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The firm has a fifty day simple moving average of $28.74 and a two-hundred day simple moving average of $32.93. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 10.08 and a beta of 1.35. Sealed Air Co. has a 1 year low of $22.78 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm earned $0.88 EPS. The firm's revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. Sealed Air's dividend payout ratio is presently 44.20%.

Insider Activity

In related news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the purchase, the director now directly owns 35,000 shares of the company's stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup cut their price target on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a report on Monday, January 6th. Truist Financial dropped their target price on Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company raised 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. Bank of America lowered their price objective on Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, UBS Group upgraded shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective for the company in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sealed Air presently has a consensus rating of "Moderate Buy" and an average target price 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.