State of New Jersey Common Pension Fund D Acquires 5,231 Shares of Sealed Air Co. (NYSE:SEE)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,755 shares of the industrial products company’s stock after purchasing an additional 5,231 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sealed Air were worth $2,060,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Sealed Air by 3.7% during the 1st 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 in the last quarter. Millennium Management LLC boosted its stake in Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after acquiring an additional 1,136,985 shares in the last quarter. Earnest Partners LLC boosted its stake in Sealed Air by 7.3% during the first quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after acquiring an additional 170,846 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $66,475,000 after purchasing an additional 479,675 shares during the period. Finally, Deprince Race & Zollo Inc. increased its stake in Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock valued at $64,571,000 after purchasing an additional 24,940 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analysts Set New Price Targets

SEE has been the topic of several recent research reports. Royal Bank of Canada cut their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Raymond James raised shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 17th. Truist Financial lowered 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. Morgan Stanley began coverage on shares of Sealed Air in a report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 price objective for the company. Finally, StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Sealed Air Stock Up 0.6 %

Shares of NYSE:SEE opened at $35.86 on Friday. The company has a market capitalization of $5.22 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 4.93 and a beta of 1.34. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The business has a fifty day moving average price of $35.48 and a two-hundred day moving average price of $35.82.

Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Analysts forecast that Sealed Air Co. will post 3.07 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

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.