Sealed Air Co. (NYSE:SEE) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its holdings in shares of Sealed Air Co. (NYSE:SEE) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,369 shares of the industrial products company’s stock after purchasing an additional 977 shares during the quarter. Arizona State Retirement System’s holdings in Sealed Air were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Breakwater Capital Group boosted its holdings in shares of Sealed Air by 100.0% during the fourth quarter. Breakwater Capital Group now owns 45,320 shares of the industrial products company’s stock worth $1,620,000 after purchasing an additional 22,660 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Sealed Air by 417.7% in the fourth quarter. State of Alaska Department of Revenue now owns 88,856 shares of the industrial products company’s stock valued at $3,245,000 after acquiring an additional 71,693 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Sealed Air in the fourth quarter valued at $388,000. Thompson Investment Management Inc. boosted its holdings in Sealed Air by 17.7% in the fourth quarter. Thompson Investment Management Inc. now owns 60,991 shares of the industrial products company’s stock valued at $2,227,000 after acquiring an additional 9,171 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Sealed Air by 4.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 342 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Sealed Air Stock Performance

Shares of SEE stock opened at $32.20 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. The business has a 50 day moving average of $35.45 and a two-hundred day moving average of $34.30. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $48.44. The company has a market cap of $4.65 billion, a P/E ratio of 13.64, a PEG ratio of 2.79 and a beta of 1.28.

Sealed Air (NYSE:SEE) last issued its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.26. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. Sealed Air’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, analysts anticipate that Sealed Air Co. will post 2.85 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. Sealed Air’s payout ratio is currently 33.90%.

Analysts Set New Price Targets

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

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.