Principal Financial Group Inc. Has $25.19 Million Stake in Sealed Air Co. (NYSE:SEE)

Principal Financial Group Inc. trimmed its stake in Sealed Air Co. (NYSE:SEE) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 693,886 shares of the industrial products company’s stock after selling 29,364 shares during the period. Principal Financial Group Inc.’s holdings in Sealed Air were worth $25,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Sealed Air during the 3rd quarter worth about $1,497,000. Maple Rock Capital Partners Inc. increased its holdings in shares of Sealed Air by 56.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after buying an additional 548,493 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of 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 acquiring an additional 24,940 shares during the last quarter. Commerce Bank boosted its holdings in shares of Sealed Air by 67.6% in the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after acquiring an additional 14,766 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in Sealed Air during the 2nd quarter worth approximately $2,098,000. 94.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SEE has been the topic of a number of recent analyst reports. Raymond James raised Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, October 17th. Truist Financial reduced their price target on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley initiated coverage on shares of Sealed Air in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Finally, Royal Bank of Canada lowered their price target on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, October 17th. Seven equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Sealed Air Stock Performance

Shares of Sealed Air stock opened at $34.03 on Thursday. The firm has a fifty day moving average of $35.90 and a two-hundred day moving average of $35.46. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 4.97 and a beta of 1.34. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts predict that Sealed Air Co. will post 3.06 EPS for the current year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, December 6th. Sealed Air’s payout ratio is 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.