Northern Trust Corp Grows Position in Sealed Air Co. (NYSE:SEE)

Northern Trust Corp boosted its holdings in Sealed Air Co. (NYSE:SEE) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,642,371 shares of the industrial products company’s stock after buying an additional 288,528 shares during the period. Northern Trust Corp owned approximately 1.13% of Sealed Air worth $55,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SEE. Vanguard Group Inc. increased its position in shares of Sealed Air by 17.7% in the fourth quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company’s stock worth $620,117,000 after purchasing an additional 2,754,395 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Sealed Air by 69.2% during the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company’s stock valued at $128,176,000 after buying an additional 1,549,184 shares in the last quarter. Norges Bank purchased a new position in shares of Sealed Air during the 4th quarter valued at about $50,562,000. T. Rowe Price Investment Management Inc. boosted its stake in Sealed Air by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company’s stock worth $416,657,000 after buying an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Sealed Air by 84.0% during the fourth quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock valued at $68,182,000 after acquiring an additional 920,000 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $29.84 on Thursday. Sealed Air Co. has a 12 month low of $22.78 and a 12 month high of $41.14. The firm has a market capitalization of $4.38 billion, a P/E ratio of 10.97 and a beta of 1.35. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The business has a fifty day simple moving average of $28.24 and a two-hundred day simple moving average of $32.67.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.14. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts forecast that Sealed Air Co. will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Sealed Air’s dividend payout ratio is presently 44.20%.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of recent research reports. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Truist Financial cut their price target on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Mizuho decreased their price objective on Sealed Air from $39.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company increased their price objective on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group set a $36.00 target price on Sealed Air in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sealed Air currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Insider Activity

In other Sealed Air news, Director Henry R. Keizer acquired 1,120 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $30.00 per share, with a total value of $33,600.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

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.