Legal & General Group Plc Sells 18,676 Shares of Sealed Air Co. (NYSE:SEE)

Legal & General Group Plc cut its position in Sealed Air Co. (NYSE:SEE - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 405,324 shares of the industrial products company's stock after selling 18,676 shares during the period. Legal & General Group Plc owned 0.28% of Sealed Air worth $13,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock valued at $620,117,000 after acquiring an additional 2,754,395 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Sealed Air by 69.2% during the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after buying an additional 1,549,184 shares during the last quarter. Norges Bank purchased a new stake in Sealed Air during the 4th quarter valued at approximately $50,562,000. Victory Capital Management Inc. grew its stake in shares of Sealed Air by 84.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock valued at $68,182,000 after purchasing an additional 920,000 shares during the last quarter. Finally, Swedbank AB raised its holdings in Sealed Air by 57.3% during the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company's stock worth $78,678,000 after purchasing an additional 846,882 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SEE. Bank of America dropped their price target 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. Citigroup cut their target price on shares of Sealed Air from $44.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Truist Financial upped their target price on Sealed Air from $41.00 to $44.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Finally, Mizuho decreased their price target on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Five 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.42.

Sealed Air Price Performance

NYSE:SEE traded down $0.43 during mid-day trading on Monday, reaching $25.97. 50,430 shares of the stock were exchanged, compared to its average volume of 1,531,662. Sealed Air Co. has a 1-year low of $22.78 and a 1-year high of $41.14. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $3.79 billion, a PE ratio of 9.55 and a beta of 1.35. The business has a fifty day moving average price of $29.74 and a 200 day moving average price of $33.33.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $1.36 billion. During the same period in the previous year, the company posted $0.88 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. Research analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is presently 44.20%.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

About Sealed Air

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.