Spire Wealth Management Has $5.57 Million Stock Holdings in Sealed Air Co. (NYSE:SEE)

Spire Wealth Management boosted its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 46.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,087 shares of the industrial products company's stock after acquiring an additional 50,448 shares during the quarter. Spire Wealth Management owned about 0.11% of Sealed Air worth $5,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in Sealed Air during the 3rd quarter worth approximately $895,000. Louisiana State Employees Retirement System acquired a new stake in Sealed Air during the 4th quarter worth approximately $2,965,000. Adage Capital Partners GP L.L.C. lifted its position in Sealed Air by 66.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company's stock worth $8,218,000 after acquiring an additional 99,700 shares during the period. Envestnet Asset Management Inc. lifted its position in Sealed Air by 45.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company's stock worth $17,348,000 after acquiring an additional 165,694 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Sealed Air by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company's stock worth $553,809,000 after buying an additional 92,114 shares in the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SEE shares. Mizuho cut their target price on Sealed Air from $39.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday. Wells Fargo & Company raised Sealed Air from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Wolfe Research started coverage on Sealed Air in a research note on Friday, March 1st. They set a "peer perform" rating for the company. Finally, Truist Financial raised Sealed Air from a "hold" rating to a "buy" rating and raised their price objective for the company from $39.00 to $44.00 in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $43.91.

Sealed Air Stock Up 1.8 %

Shares of NYSE SEE traded up $0.62 on Monday, hitting $35.79. The company had a trading volume of 2,149,207 shares, compared to its average volume of 1,637,261. Sealed Air Co. has a 12-month low of $28.50 and a 12-month high of $47.12. The business has a 50 day moving average of $34.34 and a two-hundred day moving average of $34.44. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The firm has a market capitalization of $5.21 billion, a P/E ratio of 14.37, a PEG ratio of 3.86 and a beta of 1.31.

Sealed Air (NYSE:SEE - Get Free Report) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.25. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company's revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sealed Air Co. will post 2.8 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, March 7th. Sealed Air's dividend payout ratio is currently 32.13%.

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.