Sealed Air Co. (NYSE:SEE) Stake Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in shares of Sealed Air Co. (NYSE:SEE) by 458.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,938 shares of the industrial products company’s stock after buying an additional 52,494 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sealed Air were worth $2,335,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SEE. CVA Family Office LLC bought a new stake in shares of Sealed Air during the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in shares of Sealed Air in the 4th quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV lifted its stake in Sealed Air by 81.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 449 shares during the last quarter. Column Capital Advisors LLC boosted its holdings in Sealed Air by 57.9% during the third quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after buying an additional 385 shares in the last quarter. Finally, Signaturefd LLC grew its position in Sealed Air by 80.3% in the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after buying an additional 476 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SEE shares. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $35.00 to $43.00 in a report on Thursday, January 11th. Truist Financial upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $39.00 to $44.00 in a research report on Monday, April 8th. Wolfe Research began coverage on Sealed Air in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Mizuho lowered their target price on Sealed Air from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, William Blair reissued a “market perform” rating on shares of Sealed Air in a research report on Thursday, May 2nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sealed Air currently has a consensus rating of “Hold” and an average price target of $43.91.

Sealed Air Stock Performance

Sealed Air stock traded up $0.03 on Wednesday, reaching $36.38. 114,219 shares of the stock were exchanged, compared to its average volume of 1,621,110. The stock has a market cap of $5.30 billion, a PE ratio of 14.60, a PEG ratio of 3.86 and a beta of 1.31. The firm has a fifty day moving average price of $34.36 and a two-hundred day moving average price of $34.54. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 7.49. Sealed Air Co. has a twelve month low of $28.50 and a twelve month high of $47.12.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that Sealed Air Co. will post 2.8 EPS for the current year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Sealed Air’s dividend payout ratio is currently 32.13%.

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.