Sealed Air Co. (NYSE:SEE) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its position in shares of Sealed Air Co. (NYSE:SEE) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 146,883 shares of the industrial products company’s stock after selling 1,900 shares during the quarter. South Dakota Investment Council’s holdings in Sealed Air were worth $5,364,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund lifted its position in shares of Sealed Air by 11.9% during the fourth quarter. New York State Common Retirement Fund now owns 560,755 shares of the industrial products company’s stock worth $20,479,000 after purchasing an additional 59,623 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Sealed Air by 1.2% in the fourth quarter. California Public Employees Retirement System now owns 274,109 shares of the industrial products company’s stock worth $10,010,000 after buying an additional 3,370 shares during the last quarter. CWM LLC increased its stake in shares of Sealed Air by 27.6% in the fourth quarter. CWM LLC now owns 5,402 shares of the industrial products company’s stock worth $197,000 after buying an additional 1,168 shares during the last quarter. Signaturefd LLC increased its stake in shares of Sealed Air by 43.2% in the fourth quarter. Signaturefd LLC now owns 1,531 shares of the industrial products company’s stock worth $56,000 after buying an additional 462 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Sealed Air in the fourth quarter worth $210,000. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Stock Performance

Shares of Sealed Air stock traded up $0.26 during trading on Wednesday, hitting $31.74. 681,098 shares of the stock were exchanged, compared to its average volume of 1,569,803. The stock’s fifty day moving average is $34.91 and its 200 day moving average is $34.31. The stock has a market cap of $4.62 billion, a PE ratio of 13.34, a P/E/G ratio of 3.44 and a beta of 1.28. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $48.44.

Sealed Air (NYSE:SEE) last posted its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.26. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, sell-side analysts anticipate that Sealed Air Co. will post 2.83 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 7th. Sealed Air’s payout ratio is currently 33.90%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and lifted their price target for the stock from $39.00 to $44.00 in a research note on Monday, April 8th. Wells Fargo & Company upgraded shares of Sealed Air from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Mizuho dropped their price target on shares of Sealed Air from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Finally, Wolfe Research started coverage on shares of Sealed Air in a research note on Friday, March 1st. They set a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $44.18.

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.