Sealed Air Co. (NYSE:SEE) Stock Position Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System grew its position in Sealed Air Co. (NYSE:SEE) by 5.5% in the third quarter, Holdings Channel.com reports. The fund owned 166,502 shares of the industrial products company’s stock after buying an additional 8,669 shares during the period. New York State Teachers Retirement System’s holdings in Sealed Air were worth $6,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB bought a new position in Sealed Air in the third quarter worth about $53,681,000. Millennium Management LLC boosted its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after purchasing an additional 1,136,985 shares during the period. Appian Way Asset Management LP bought a new position in Sealed Air during the 1st quarter worth $29,877,000. Vanguard Group Inc. increased its position in Sealed Air by 3.7% in the first quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock worth $621,380,000 after buying an additional 600,146 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after buying an additional 479,675 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company raised their price target on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered Sealed Air from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Price Performance

Shares of Sealed Air stock opened at $36.41 on Wednesday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 6.81. The company’s 50-day moving average price is $35.24 and its two-hundred day moving average price is $35.60. The stock has a market cap of $5.30 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 9.26 and a beta of 1.34.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air’s payout ratio is 32.26%.

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.