Raymond James Financial Inc. Invests $16.84 Million in Sealed Air Co. (NYSE:SEE)

Raymond James Financial Inc. bought a new stake in Sealed Air Co. (NYSE:SEE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 497,823 shares of the industrial products company's stock, valued at approximately $16,841,000. Raymond James Financial Inc. owned about 0.34% of Sealed Air at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Manchester Capital Management LLC boosted its stake in Sealed Air by 139.4% in the fourth 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 last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sealed Air in the 4th quarter worth $45,000. GAMMA Investing LLC grew its stake 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 period. Brown Brothers Harriman & Co. increased its holdings in Sealed Air by 89.0% in the fourth 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 last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Sealed Air by 148.0% in the fourth 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. Institutional investors and hedge funds own 94.40% of the company's stock.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

SEE has been the subject of several analyst reports. Raymond James decreased their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Truist Financial lowered their target price on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research note on Tuesday. 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. Wells Fargo & Company upped their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their target price 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 equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Sealed Air Stock Down 0.9 %

NYSE SEE traded down $0.25 during trading on Friday, hitting $27.54. The stock had a trading volume of 375,146 shares, compared to its average volume of 1,534,458. Sealed Air Co. has a 12 month low of $22.78 and a 12 month high of $41.14. 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 company's 50-day moving average price is $29.17 and its two-hundred day moving average price is $33.13. The company has a market capitalization of $4.01 billion, a PE ratio of 10.12 and a beta of 1.35.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm's revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is currently 44.20%.

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.