Van ECK Associates Corp Sells 48,740 Shares of Sealed Air Co. (NYSE:SEE)

Van ECK Associates Corp cut its stake in shares of Sealed Air Co. (NYSE:SEE) by 35.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,446 shares of the industrial products company’s stock after selling 48,740 shares during the quarter. Van ECK Associates Corp owned 0.06% of Sealed Air worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 311 shares during the last quarter. Choreo LLC grew its holdings in Sealed Air by 3.7% during the 4th quarter. Choreo LLC now owns 9,829 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 351 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Sealed Air by 4.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,970 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 380 shares during the last quarter. Raymond James Trust N.A. grew its holdings in Sealed Air by 3.4% during the 3rd quarter. Raymond James Trust N.A. now owns 14,016 shares of the industrial products company’s stock worth $509,000 after acquiring an additional 466 shares during the last quarter. Finally, KBC Group NV grew its holdings in Sealed Air by 20.1% during the 3rd quarter. KBC Group NV now owns 4,595 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 769 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Down 0.3 %

Sealed Air stock opened at $33.05 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The firm’s fifty day moving average is $34.32 and its 200 day moving average is $34.94. The company has a market capitalization of $4.81 billion, a PE ratio of 12.15 and a beta of 1.34.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. Sealed Air’s payout ratio is presently 29.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America reduced their target price on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Truist Financial boosted their target price 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. Finally, Wells Fargo & Company reduced their target price on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.