Bank of New York Mellon Corp Sells 82,834 Shares of Sealed Air Co. (NYSE:SEE)

Bank of New York Mellon Corp reduced its stake in Sealed Air Co. (NYSE:SEE) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,439,068 shares of the industrial products company’s stock after selling 82,834 shares during the period. Bank of New York Mellon Corp owned approximately 0.99% of Sealed Air worth $48,684,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its holdings in shares of 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 worth $41,000 after acquiring an additional 700 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sealed Air in the fourth quarter worth $45,000. GAMMA Investing LLC boosted its holdings 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 worth $45,000 after acquiring an additional 907 shares during the period. Acuitas Investments LLC boosted its holdings in shares of Sealed Air by 64.3% in the fourth quarter. Acuitas Investments LLC now owns 2,300 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 900 shares during the period. Finally, Quarry LP boosted its holdings in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 311 shares during the period. 94.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SEE shares. Bank of America lowered their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Truist Financial boosted their price objective on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Citigroup cut their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.17.

Sealed Air Stock Performance

Sealed Air stock opened at $31.85 on Thursday. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $4.64 billion, a PE ratio of 11.71 and a beta of 1.34. The firm has a fifty day simple moving average of $34.04 and a two-hundred day simple moving average of $34.91. Sealed Air Co. has a twelve month low of $30.87 and a twelve month high of $41.14.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. Research analysts expect that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The company also recently disclosed 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 dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 14th. Sealed Air’s payout ratio is 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.