Sealed Air Co. (NYSE:SEE) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its position in Sealed Air Co. (NYSE:SEE - Free Report) by 262.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,993 shares of the industrial products company's stock after buying an additional 196,286 shares during the quarter. Lazard Asset Management LLC owned approximately 0.19% of Sealed Air worth $9,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Manchester Capital Management LLC increased 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 acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sealed Air in the 4th quarter valued at $45,000. Smartleaf Asset Management LLC increased 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 acquiring an additional 913 shares during the period. Brown Brothers Harriman & Co. increased its holdings 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 acquiring an additional 712 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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 acquiring an additional 778 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Price Performance

SEE stock traded up $0.13 on Tuesday, reaching $32.40. 104,242 shares of the company's stock were exchanged, compared to its average volume of 1,551,553. The stock has a fifty day moving average of $28.32 and a 200-day moving average of $32.37. Sealed Air Co. has a twelve month low of $22.78 and a twelve month high of $41.14. The firm has a market cap of $4.76 billion, a PE ratio of 11.91 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Sealed Air's quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts predict that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.47%. Sealed Air's dividend payout ratio is presently 39.60%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SEE shares. Mizuho cut their target price on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Truist Financial dropped their target price on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 target price on the stock in a report on Monday, April 7th. Jefferies Financial Group set a $36.00 target price on Sealed Air in a report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their target price on Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sealed Air presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Insider Buying and Selling

In other news, Director Henry R. Keizer bought 1,120 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average price 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 of the company's stock, valued at approximately $1,050,000. This trade represents a 3.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Sealed Air 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.