By otakuyassine3@gmail.com 
Arizona State Retirement System lifted its holdings in shares of Sealed Air Co. (NYSE:SEE – Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 42,277 shares of the industrial products company’s stock after purchasing an additional 348 shares during the period. Arizona State Retirement System’s holdings in Sealed Air were worth $1,430,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SEE. Proficio Capital Partners LLC acquired a new position in shares of Sealed Air during the fourth quarter valued at $717,000. Atria Investments Inc lifted its stake in shares of Sealed Air by 9.2% during the fourth quarter. Atria Investments Inc now owns 37,108 shares of the industrial products company’s stock valued at $1,255,000 after acquiring an additional 3,129 shares during the period. Assetmark Inc. lifted its stake in shares of Sealed Air by 4.3% during the fourth quarter. Assetmark Inc. now owns 57,959 shares of the industrial products company’s stock valued at $1,961,000 after acquiring an additional 2,389 shares during the period. Victory Capital Management Inc. lifted its stake in shares of 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $55,716,000 after acquiring an additional 32,976 shares during the period. Institutional investors own 94.40% of the company’s stock.
Sealed Air Stock Down 0.6 %
Shares of Sealed Air stock opened at $30.09 on Thursday. Sealed Air Co. has a 1 year low of $29.55 and a 1 year high of $41.14. The business has a 50-day moving average of $33.68 and a two-hundred day moving average of $34.78. The company has a market capitalization of $4.39 billion, a P/E ratio of 11.06 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79.
Sealed Air (NYSE:SEE – Get Free Report) last announced its quarterly 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 return on equity of 74.21% and a net margin of 7.34%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities analysts predict that Sealed Air Co. will post 3.05 EPS for the current year.
Sealed Air Announces Dividend
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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. Sealed Air’s payout ratio is presently 44.20%.
Analyst Upgrades and Downgrades
SEE has been the topic of several research reports. Truist Financial upped their price target on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Mizuho cut their target price on Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Citigroup cut their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America cut their target price 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. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.25.
View Our Latest Analysis on SEE
Insider Buying and Selling
In other news, Director Henry R. Keizer acquired 1,120 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is owned by corporate insiders.
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.
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