Voya Investment Management LLC Lowers Stock Position in Sealed Air Co. (NYSE:SEE)

Voya Investment Management LLC lowered its position in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 38.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC boosted its holdings in Sealed Air by 139.4% during the 4th 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 period. GAMMA Investing LLC boosted its stake in shares of Sealed Air by 218.0% in the fourth quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 907 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sealed Air in the fourth quarter valued at approximately $45,000. Smartleaf Asset Management LLC grew its holdings in shares of 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 in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Sealed Air by 89.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company's stock worth $51,000 after buying an additional 712 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Henry R. Keizer acquired 1,120 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,050,000. This represents a 3.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SEE has been the subject of several recent research reports. Raymond James dropped their price target on shares of 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. Wells Fargo & Company boosted their target price on Sealed Air from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Jefferies Financial Group set a $36.00 target price on shares of Sealed Air in a report on Tuesday, March 4th. Finally, Truist Financial dropped their price objective on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four 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, Sealed Air presently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

Sealed Air Stock Performance

NYSE SEE traded up $1.21 during trading hours on Monday, hitting $31.78. The company had a trading volume of 250,295 shares, compared to its average volume of 1,539,752. The business has a 50 day moving average of $28.19 and a 200-day moving average of $32.54. The company has a market cap of $4.67 billion, a PE ratio of 11.68 and a beta of 1.35. Sealed Air Co. has a 1-year low of $22.78 and a 1-year 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business's revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities research analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, March 14th. Sealed Air's dividend payout ratio is currently 39.60%.

Sealed Air 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.