Horizon Kinetics Asset Management LLC Buys 350 Shares of Sealed Air Co. (NYSE:SEE)

Horizon Kinetics Asset Management LLC lifted its stake in shares of Sealed Air Co. (NYSE:SEE) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,450 shares of the industrial products company’s stock after purchasing an additional 350 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Sealed Air were worth $1,470,000 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. Pacer Advisors Inc. bought a new stake in shares of Sealed Air during the 3rd quarter valued at approximately $139,800,000. Swedbank AB grew its holdings in Sealed Air by 57.3% during the 4th quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock worth $78,678,000 after acquiring an additional 846,882 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sealed Air by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock worth $83,542,000 after acquiring an additional 12,559 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Sealed Air by 84.0% during the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company’s stock worth $68,182,000 after acquiring an additional 920,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Sealed Air by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after acquiring an additional 32,976 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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. 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. Wells Fargo & Company boosted their price target on shares of Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group boosted their price target on shares of Sealed Air from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price target on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Six investment 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 company. Based on data from MarketBeat, Sealed Air currently has an average rating of “Moderate Buy” and an average target price of $40.25.

Sealed Air Stock Performance

SEE opened at $30.19 on Tuesday. 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 company’s fifty day moving average price is $33.46 and its two-hundred day moving average price is $34.68. Sealed Air Co. has a 1-year low of $29.33 and a 1-year high of $41.14. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 11.10 and a beta of 1.32.

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

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. Sealed Air’s payout ratio is 44.20%.

Insider Transactions at Sealed Air

In related news, Director Henry R. Keizer purchased 1,120 shares of Sealed Air stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.