Invesco Ltd. Boosts Holdings in Sealed Air Co. (NYSE:SEE)

Invesco Ltd. boosted its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 69.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,788,839 shares of the industrial products company's stock after purchasing an additional 1,549,184 shares during the quarter. Invesco Ltd. owned about 2.60% of Sealed Air worth $128,176,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SEE. Manchester Capital Management LLC boosted its holdings in shares of Sealed Air by 139.4% in the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company's stock valued at $41,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Sealed Air by 218.0% during the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock worth $45,000 after purchasing an additional 907 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sealed Air during the fourth quarter worth about $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Sealed Air by 89.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 712 shares during the period. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SEE has been the subject of a number of research reports. Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research note on Tuesday, March 4th. Truist Financial increased their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Bank of America reduced their target price on shares of Sealed Air from $42.00 to $39.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley lowered their price target on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Five investment 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.42.

Sealed Air Stock Performance

NYSE SEE traded up $0.53 on Friday, hitting $26.40. 1,324,158 shares of the company's stock were exchanged, compared to its average volume of 1,534,693. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 9.71 and a beta of 1.35. The firm's 50-day moving average price is $29.90 and its two-hundred day moving average price is $33.43. Sealed Air Co. has a fifty-two week low of $22.78 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. Sealed Air's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, research analysts expect 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 3.03%. Sealed Air's dividend payout ratio is presently 44.20%.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer bought 1,120 shares of the company's stock in a transaction on 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 completion of the acquisition, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. This represents a 3.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.30% of the company's stock.

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.