Peregrine Capital Management LLC Decreases Stock Holdings in Sealed Air Corporation (NYSE:SEE)

Peregrine Capital Management LLC reduced its position in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 165,703 shares of the industrial products company's stock after selling 9,094 shares during the period. Peregrine Capital Management LLC owned 0.11% of Sealed Air worth $4,789,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SEE. Vanguard Group Inc. increased its stake in shares of Sealed Air by 17.7% during the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after purchasing an additional 2,754,395 shares during the last quarter. Invesco Ltd. raised its position in shares of Sealed Air by 69.2% in the fourth quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after buying an additional 1,549,184 shares in the last quarter. Norges Bank bought a new stake in shares of Sealed Air during the 4th quarter valued at about $50,562,000. T. Rowe Price Investment Management Inc. raised its position in shares of Sealed Air by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock valued at $416,657,000 after buying an additional 1,081,848 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Sealed Air by 84.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,015,442 shares of the industrial products company's stock worth $68,182,000 after purchasing an additional 920,000 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Performance

Shares of SEE stock traded down $0.30 during mid-day trading on Friday, reaching $32.55. 849,669 shares of the company's stock traded hands, compared to its average volume of 1,549,598. Sealed Air Corporation has a 12 month low of $22.78 and a 12 month high of $38.85. The firm has a 50 day moving average price of $31.21 and a two-hundred day moving average price of $31.42. The firm has a market capitalization of $4.79 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.96 and a beta of 1.35. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a net margin of 5.55% and a return on equity of 65.49%. Sealed Air's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. On average, research analysts forecast that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.46%. Sealed Air's payout ratio is 39.60%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SEE. Truist Financial cut their price target on shares of Sealed Air from $44.00 to $33.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen upgraded Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group upgraded shares of Sealed Air from a "neutral" rating to a "buy" rating and set a $38.00 price objective on the stock in a report on Monday, April 7th. Raymond James Financial lowered their price target on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Mizuho decreased their price target on Sealed Air from $39.00 to $32.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.00.

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.