Principal Financial Group Inc. Raises Stock Holdings in Sealed Air Corporation (NYSE:SEE)

Principal Financial Group Inc. grew its position in Sealed Air Corporation (NYSE:SEE - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 732,624 shares of the industrial products company's stock after buying an additional 20,029 shares during the quarter. Principal Financial Group Inc. owned 0.50% of Sealed Air worth $21,173,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SEE. Vanguard Group Inc. raised its position in shares of Sealed Air by 17.7% in the 4th quarter. Vanguard Group Inc. now owns 18,330,381 shares of the industrial products company's stock worth $620,117,000 after acquiring an additional 2,754,395 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Sealed Air by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,316,192 shares of the industrial products company's stock worth $416,657,000 after acquiring an additional 1,081,848 shares in the last quarter. Invesco Ltd. raised its position in shares of Sealed Air by 69.2% in the 4th quarter. Invesco Ltd. now owns 3,788,839 shares of the industrial products company's stock worth $128,176,000 after acquiring an additional 1,549,184 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Sealed Air by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,204,663 shares of the industrial products company's stock valued at $74,583,000 after buying an additional 178,592 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Sealed Air by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,646,933 shares of the industrial products company's stock valued at $55,716,000 after buying an additional 32,976 shares in the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of SEE traded down $0.69 during mid-day trading on Friday, reaching $32.01. The company had a trading volume of 639,730 shares, compared to its average volume of 1,543,924. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 5.26. The stock has a market capitalization of $4.71 billion, a P/E ratio of 15.85, a PEG ratio of 2.92 and a beta of 1.35. The stock has a 50 day moving average of $31.66 and a two-hundred day moving average of $31.34.

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

Sealed Air Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.50%. Sealed Air's payout ratio is 39.60%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SEE. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. UBS Group upped their target price on Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday. Raymond James Financial reduced their target price on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 22nd. Citigroup upped their target price on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday. Finally, Mizuho reduced their target price on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sealed Air has a consensus rating of "Moderate Buy" and a consensus target price of $37.55.

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.