Louisiana State Employees Retirement System Decreases Stake in Sealed Air Co. (NYSE:SEE)

Louisiana State Employees Retirement System lowered its position in Sealed Air Co. (NYSE:SEE) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,400 shares of the industrial products company’s stock after selling 2,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Sealed Air were worth $2,556,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Isthmus Partners LLC raised its holdings in Sealed Air by 4.6% during the first quarter. Isthmus Partners LLC now owns 7,395 shares of the industrial products company’s stock worth $275,000 after purchasing an additional 322 shares in the last quarter. Everence Capital Management Inc. raised its holdings in Sealed Air by 2.8% during the third quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company’s stock worth $506,000 after purchasing an additional 380 shares in the last quarter. United Services Automobile Association raised its holdings in Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 393 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company’s stock worth $1,275,000 after purchasing an additional 467 shares in the last quarter. Finally, Sendero Wealth Management LLC raised its holdings in Sealed Air by 7.2% during the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company’s stock worth $298,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

SEE has been the topic of a number of research analyst reports. Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and cut their price objective for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Citigroup cut their target price on shares of Sealed Air from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Thursday, October 17th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, UBS Group cut their target price on shares of Sealed Air from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sealed Air currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Sealed Air Stock Performance

NYSE:SEE opened at $36.66 on Tuesday. The firm’s fifty day moving average price is $35.05 and its 200 day moving average price is $35.44. Sealed Air Co. has a 1-year low of $29.92 and a 1-year high of $41.14. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 9.13 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion for 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 revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. On average, sell-side analysts expect that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.18%. Sealed Air’s payout ratio is currently 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.