Vanguard Group Inc. Has $646.08 Million Stock Holdings in Sealed Air Corporation $SEE

by · The Markets Daily

Vanguard Group Inc. lowered its stake in Sealed Air Corporation (NYSE:SEE – Free Report) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,276,572 shares of the industrial products company’s stock after selling 314,967 shares during the quarter. Vanguard Group Inc. owned approximately 12.43% of Sealed Air worth $646,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in Sealed Air in the second quarter valued at approximately $37,434,000. Alberta Investment Management Corp boosted its holdings in shares of Sealed Air by 43.3% in the 2nd quarter. Alberta Investment Management Corp now owns 2,287,300 shares of the industrial products company’s stock valued at $70,975,000 after buying an additional 691,200 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Sealed Air by 13.7% in the second quarter. Bank of America Corp DE now owns 4,220,533 shares of the industrial products company’s stock valued at $130,963,000 after buying an additional 507,067 shares in the last quarter. Brandes Investment Partners LP increased its holdings in Sealed Air by 30.1% during the second quarter. Brandes Investment Partners LP now owns 1,908,782 shares of the industrial products company’s stock worth $59,230,000 after buying an additional 441,140 shares during the last quarter. Finally, Atlas FRM LLC raised its position in Sealed Air by 71.9% during the second quarter. Atlas FRM LLC now owns 980,000 shares of the industrial products company’s stock worth $30,409,000 after acquiring an additional 410,000 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Truist Financial lifted their price objective on shares of Sealed Air from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Raymond James Financial cut Sealed Air from an “outperform” rating to a “market perform” rating in a report on Monday, December 22nd. Morgan Stanley upped their price objective on Sealed Air from $31.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. lifted their target price on Sealed Air from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada increased their price target on Sealed Air from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.42.

Check Out Our Latest Stock Analysis on Sealed Air

Sealed Air Price Performance

NYSE:SEE opened at $41.97 on Tuesday. Sealed Air Corporation has a 52 week low of $22.78 and a 52 week high of $44.27. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.75 and a current ratio of 1.29. The firm’s 50-day simple moving average is $41.70 and its 200 day simple moving average is $37.93. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 13.63 and a beta of 1.35.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.9%. Sealed Air’s dividend payout ratio is currently 25.97%.

About Sealed Air

(Free Report)

Sealed Air Corporation is a global packaging company that develops and manufactures a wide range of materials, equipment and services designed to protect, preserve and promote products. Best known for inventing Bubble Wrap® protective packaging, the company serves customers across food and beverage, e-commerce, electronics, manufacturing and healthcare industries. Sealed Air’s solutions help businesses reduce product damage, extend shelf life and improve operational efficiency.

The company’s product portfolio is organized into three primary segments.

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