Sealed Air Corporation (NYSE:SEE) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Sealed Air Corporation by 43.1%, owning a total of 519,339 shares worth $15 million after purchasing an additional 156,309 shares in the 1st quarter.
• Sealed Air reported $0.89 EPS for the last quarter, surpassing analysts' estimates, with revenue of $1.34 billion, indicating a slight decline compared to the previous year.
• The company declared a quarterly dividend of $0.20 per share, scheduled for payment on September 26th, resulting in an annualized yield of 2.7%.

Public Sector Pension Investment Board increased its stake in Sealed Air Corporation (NYSE:SEE - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 519,339 shares of the industrial products company's stock after acquiring an additional 156,309 shares during the quarter. Public Sector Pension Investment Board owned about 0.35% of Sealed Air worth $15,009,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Sealed Air during the 1st quarter worth about $26,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Sealed Air during the fourth quarter valued at $27,000. North Capital Inc. bought a new stake in shares of Sealed Air in the first quarter worth $30,000. CX Institutional bought a new stake in Sealed Air during the first quarter valued at about $52,000. Finally, Whittier Trust Co. boosted its stake in shares of Sealed Air by 77.7% in the first quarter. Whittier Trust Co. now owns 1,823 shares of the industrial products company's stock worth $53,000 after acquiring an additional 797 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEE has been the subject of a number of research analyst reports. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a research note on Tuesday, July 15th. UBS Group upped their price target on Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Truist Financial upped their price target on Sealed Air from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their price target on Sealed Air from $39.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Citigroup raised their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.80.

Sealed Air Trading Up 5.6%

NYSE:SEE traded up $1.67 during mid-day trading on Friday, hitting $31.51. 4,086,263 shares of the company's stock were exchanged, compared to its average volume of 1,375,548. The company has a 50 day simple moving average of $31.01 and a 200-day simple moving average of $30.64. The firm has a market capitalization of $4.64 billion, a P/E ratio of 15.91, a PEG ratio of 2.47 and a beta of 1.33. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 4.18. Sealed Air Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85.

Sealed Air (NYSE:SEE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.72 by $0.17. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Sealed Air had a net margin of 5.46% and a return on equity of 60.61%. The company's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. As a group, research analysts expect that Sealed Air Corporation will post 3.05 earnings per share for the current year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's payout ratio is presently 40.40%.

Sealed Air Company 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.