Sealed Air Co. (NYSE:SEE) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in Sealed Air Co. (NYSE:SEE - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,642,371 shares of the industrial products company's stock after acquiring an additional 288,528 shares during the period. Northern Trust Corp owned 1.13% of Sealed Air worth $55,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SEE. Arizona State Retirement System raised its holdings in shares of Sealed Air by 0.8% in the fourth quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock worth $1,430,000 after buying an additional 348 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in shares of Sealed Air by 0.8% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock worth $1,470,000 after buying an additional 350 shares during the period. Choreo LLC raised its holdings in shares of Sealed Air by 3.7% in the fourth quarter. Choreo LLC now owns 9,829 shares of the industrial products company's stock worth $331,000 after buying an additional 351 shares during the period. Metis Global Partners LLC raised its holdings in shares of Sealed Air by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 9,039 shares of the industrial products company's stock worth $306,000 after buying an additional 375 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Sealed Air by 3.3% in the fourth quarter. Truist Financial Corp now owns 11,794 shares of the industrial products company's stock worth $399,000 after buying an additional 377 shares during the period. Institutional investors own 94.40% of the company's stock.

Insider Buying and Selling

In other news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the transaction, the director now owns 35,000 shares in the company, valued at $1,050,000. The trade was a 3.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by company insiders.

Sealed Air Stock Down 0.6%

SEE stock traded down $0.19 on Tuesday, hitting $32.03. 222,589 shares of the company's stock were exchanged, compared to its average volume of 1,541,659. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The firm has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $32.52. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market cap of $4.71 billion, a P/E ratio of 11.78 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping 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 firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.50%. Sealed Air's dividend payout ratio (DPR) is 39.60%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SEE. 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. StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company increased their price objective 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 dropped their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.