Bank of America Corp DE Has $243.45 Million Holdings in Sealed Air Co. (NYSE:SEE)

Bank of America Corp DE raised its position in Sealed Air Co. (NYSE:SEEGet Rating) by 13.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,635,752 shares of the industrial products company’s stock after buying an additional 417,485 shares during the period. Bank of America Corp DE owned 2.49% of Sealed Air worth $243,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SEE. Ellevest Inc. boosted its position in Sealed Air by 269.0% in the first quarter. Ellevest Inc. now owns 369 shares of the industrial products company’s stock valued at $25,000 after buying an additional 269 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Sealed Air by 186.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 582 shares of the industrial products company’s stock valued at $39,000 after buying an additional 379 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of Sealed Air by 334.1% during the first quarter. Zions Bancorporation N.A. now owns 981 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 755 shares in the last quarter. Baader Bank INC acquired a new position in shares of Sealed Air during the first quarter worth approximately $100,000. Finally, Eagle Bay Advisors LLC lifted its position in shares of Sealed Air by 29.2% during the first quarter. Eagle Bay Advisors LLC now owns 1,808 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 409 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Trading Down 2.9 %

SEE opened at $48.08 on Wednesday. Sealed Air Co. has a fifty-two week low of $47.60 and a fifty-two week high of $70.72. The company has a debt-to-equity ratio of 18.30, a current ratio of 1.34 and a quick ratio of 0.72. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.17. The firm has a 50 day simple moving average of $56.01 and a 200 day simple moving average of $60.83.

Sealed Air (NYSE:SEEGet Rating) last issued its earnings results on Tuesday, August 2nd. The industrial products company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.99 by $0.02. Sealed Air had a net margin of 9.56% and a return on equity of 320.73%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sealed Air Co. will post 4.15 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, September 8th. Sealed Air’s payout ratio is presently 21.74%.

Analyst Upgrades and Downgrades

SEE has been the topic of a number of research reports. Mizuho reduced their target price on shares of Sealed Air from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. Bank of America lowered shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research report on Thursday, July 7th. Wells Fargo & Company reduced their target price on shares of Sealed Air from $62.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 16th. Credit Suisse Group lowered shares of Sealed Air from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $64.00 in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. upgraded shares of Sealed Air from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $62.00 to $58.00 in a research report on Tuesday, August 30th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus rating of “Hold” and an average target price of $68.18.

Insider Buying and Selling at Sealed Air

In other news, CEO Edward L. Doheny II bought 4,500 shares of the stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average price of $56.95 per share, with a total value of $256,275.00. Following the completion of the purchase, the chief executive officer now owns 515,254 shares of the company’s stock, valued at $29,343,715.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Edward L. Doheny II acquired 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average cost of $56.95 per share, for a total transaction of $256,275.00. Following the completion of the acquisition, the chief executive officer now directly owns 515,254 shares in the company, valued at approximately $29,343,715.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emile Z. Chammas acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was bought at an average cost of $54.08 per share, for a total transaction of $54,080.00. Following the completion of the transaction, the chief operating officer now directly owns 208,161 shares in the company, valued at approximately $11,257,346.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 7,000 shares of company stock valued at $395,640. Corporate insiders own 0.44% of the company’s stock.

About Sealed Air

(Get Rating)

Sealed Air Corporation provides food safety and security, and product protection solutions and equipment in North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety and 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, and dairy markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, Simple Steps, and Optidure brands.

Further Reading

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

Receive News & Ratings for Sealed Air Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air and related companies with MarketBeat.com's FREE daily email newsletter.