Heartland Advisors Inc. Grows Stake in Sealed Air Co. (NYSE:SEE)

Heartland Advisors Inc. grew its holdings in shares of Sealed Air Co. (NYSE:SEE) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 358,872 shares of the industrial products company’s stock after buying an additional 17,650 shares during the period. Heartland Advisors Inc.’s holdings in Sealed Air were worth $12,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Sealed Air by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock worth $58,587,000 after purchasing an additional 502,999 shares in the last quarter. Cerity Partners LLC raised its stake in Sealed Air by 49.2% in the third quarter. Cerity Partners LLC now owns 21,250 shares of the industrial products company’s stock worth $771,000 after buying an additional 7,003 shares in the last quarter. Bank of Montreal Can lifted its holdings in Sealed Air by 175.5% in the third quarter. Bank of Montreal Can now owns 256,641 shares of the industrial products company’s stock worth $9,411,000 after buying an additional 163,493 shares during the period. FMR LLC boosted its position in Sealed Air by 28.0% during the 3rd quarter. FMR LLC now owns 626,348 shares of the industrial products company’s stock valued at $22,736,000 after acquiring an additional 137,073 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Sealed Air by 24.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 561,577 shares of the industrial products company’s stock worth $20,385,000 after acquiring an additional 110,806 shares during the period. Institutional investors own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SEE. Jefferies Financial Group set a $36.00 target price on Sealed Air in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Mizuho reduced their target price on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Truist Financial upped their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.25.

Insider Buying and Selling at Sealed Air

In other news, Director Henry R. Keizer acquired 1,120 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $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 the SEC website. Company insiders own 0.30% of the company’s stock.

Sealed Air Stock Up 0.1 %

SEE stock opened at $29.59 on Friday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 10.88 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1-year low of $28.67 and a 1-year high of $41.14. The business has a fifty day moving average price of $32.75 and a 200-day moving average price of $34.40.

Sealed Air (NYSE:SEE) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

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.