Thrivent Financial for Lutherans Sells 1,783 Shares of Sealed Air Co. (NYSE:SEE)

Thrivent Financial for Lutherans cut its holdings in shares of Sealed Air Co. (NYSE:SEE) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,880 shares of the industrial products company’s stock after selling 1,783 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Sealed Air worth $3,819,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SEE. Swedbank AB boosted its position in Sealed Air by 57.3% during the fourth quarter. Swedbank AB now owns 2,325,696 shares of the industrial products company’s stock valued at $78,678,000 after purchasing an additional 846,882 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sealed Air by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company’s stock valued at $83,542,000 after buying an additional 12,559 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Sealed Air by 84.0% in 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 buying an additional 920,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sealed Air by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company’s stock worth $55,716,000 after buying an additional 32,976 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in Sealed Air by 56.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after acquiring an additional 548,493 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group set a $36.00 price objective on shares of Sealed Air in a research note on Tuesday, March 4th. Bank of America dropped their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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 note on Monday, January 6th. Morgan Stanley dropped their price target on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Six 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 stock. According to MarketBeat.com, Sealed Air presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

Insiders Place Their Bets

In other news, Director Henry R. Keizer purchased 1,120 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $30.00 per share, with a total value of $33,600.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at approximately $1,050,000. The trade was a 3.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Sealed Air Stock Performance

NYSE SEE opened at $29.35 on Wednesday. The firm has a 50-day moving average price of $32.95 and a two-hundred day moving average price of $34.46. Sealed Air Co. has a 12-month low of $28.67 and a 12-month high of $41.14. The company has a market capitalization of $4.28 billion, a P/E ratio of 10.79 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62.

Sealed Air (NYSE:SEE) last issued its quarterly 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. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.73%. Sealed Air’s dividend payout ratio is 44.20%.

About Sealed Air

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.