CIBC Private Wealth Group LLC Has $673,000 Holdings in Sealed Air Co. (NYSE:SEE)

CIBC Private Wealth Group LLC boosted its position in shares of Sealed Air Co. (NYSE:SEE) by 47.3% in the fourth quarter, Holdings Channel reports. The fund owned 19,976 shares of the industrial products company’s stock after acquiring an additional 6,412 shares during the period. CIBC Private Wealth Group LLC’s holdings in Sealed Air were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Manchester Capital Management LLC lifted its position in shares of 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 worth $41,000 after purchasing an additional 700 shares during the last quarter. GAMMA Investing LLC increased its position in Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after buying an additional 907 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sealed Air during the fourth quarter worth approximately $45,000. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 913 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 712 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Insider Activity at Sealed Air

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $30.00 per share, for a total transaction 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. This represents a 3.31 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by company insiders.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $24.39 on Friday. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 8.97 and a beta of 1.32. The firm’s 50-day moving average price is $31.89 and its two-hundred day moving average price is $34.17. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1-year low of $24.35 and a 1-year high of $41.14.

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

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is presently 44.20%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SEE shares. Mizuho reduced their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Truist Financial lifted their target price on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Citigroup cut their price target on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley decreased their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.25.

Sealed Air Company 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.