Voya Investment Management LLC Sells 18,439 Shares of Sealed Air Co. (NYSE:SEE)

Voya Investment Management LLC reduced its stake in Sealed Air Co. (NYSE:SEE - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,575 shares of the industrial products company's stock after selling 18,439 shares during the period. Voya Investment Management LLC's holdings in Sealed Air were worth $1,001,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in Sealed Air by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock worth $416,657,000 after buying an additional 1,081,848 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Sealed Air by 9.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,648 shares of the industrial products company's stock valued at $3,338,000 after buying an additional 8,491 shares during the period. Pinebridge Investments L.P. bought a new stake in Sealed Air during the fourth quarter worth approximately $276,000. State of Tennessee Department of Treasury boosted its stake in Sealed Air by 7.3% during the fourth quarter. State of Tennessee Department of Treasury now owns 73,600 shares of the industrial products company's stock valued at $2,490,000 after buying an additional 5,023 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sealed Air by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock worth $74,583,000 after purchasing an additional 178,592 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

SEE has been the topic of several recent analyst reports. UBS Group upgraded Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a report on Monday, April 7th. Raymond James reduced their price objective on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 22nd. Truist Financial lowered their target price on Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Mizuho reduced their price target on shares of Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group set a $36.00 price target on shares of Sealed Air in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.00.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost 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 in the company, valued at $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company's stock.

Sealed Air Stock Down 0.5 %

Sealed Air stock traded down $0.14 during mid-day trading on Friday, hitting $30.59. 1,671,494 shares of the company's stock were exchanged, compared to its average volume of 1,543,441. Sealed Air Co. has a 1-year low of $22.78 and a 1-year high of $41.14. The stock has a 50 day moving average of $28.19 and a two-hundred day moving average of $32.59. The stock has a market cap of $4.49 billion, a P/E ratio of 11.25 and a beta of 1.35. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62.

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

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend 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.