Principal Financial Group Inc. Boosts Stock Position in Sealed Air Corporation (NYSE:SEE)

Principal Financial Group Inc. raised its holdings in Sealed Air Corporation (NYSE:SEE - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in Sealed Air by 0.8% during the 4th quarter. Arizona State Retirement System now owns 42,277 shares of the industrial products company's stock worth $1,430,000 after buying an additional 348 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Sealed Air by 0.8% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 43,450 shares of the industrial products company's stock valued at $1,470,000 after buying an additional 350 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Sealed Air by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 63,960 shares of the industrial products company's stock valued at $2,164,000 after buying an additional 400 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Sealed Air by 30.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,897 shares of the industrial products company's stock valued at $64,000 after buying an additional 444 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Sealed Air by 1.5% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 30,526 shares of the industrial products company's stock worth $1,033,000 after buying an additional 448 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SEE shares. Mizuho lowered their price objective on Sealed Air from $39.00 to $32.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. UBS Group lifted their price objective on Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday. Raymond James Financial lowered their price objective on Sealed Air from $42.00 to $36.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 22nd. Truist Financial lifted their price objective on Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Sealed Air Trading Down 1.9%

Shares of SEE stock traded down $0.63 during trading on Friday, hitting $32.07. 197,714 shares of the stock traded hands, compared to its average volume of 1,542,891. The firm has a market capitalization of $4.72 billion, a P/E ratio of 15.86, 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 current ratio of 1.26 and a quick ratio of 0.76. The firm's fifty day moving average price is $31.58 and its 200-day moving average price is $31.37. Sealed Air Corporation has a 52-week low of $22.78 and a 52-week high of $38.85.

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

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders 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 annualized dividend and a dividend yield of 2.49%. Sealed Air's dividend payout ratio (DPR) is 39.60%.

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.