Public Sector Pension Investment Board Has $15.01 Million Stock Holdings in Sealed Air Corporation (NYSE:SEE)

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 grew its stake in shares of 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. The fund owned 519,339 shares of the industrial products company's stock after buying an additional 156,309 shares during the period. Public Sector Pension Investment Board owned approximately 0.35% of Sealed Air worth $15,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Sealed Air by 182.4% during the first quarter. GAMMA Investing LLC now owns 3,736 shares of the industrial products company's stock worth $108,000 after purchasing an additional 2,413 shares during the period. Oppenheimer Asset Management Inc. raised its position in Sealed Air by 7.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 56,323 shares of the industrial products company's stock valued at $1,628,000 after buying an additional 3,664 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Sealed Air in the 4th quarter valued at approximately $16,841,000. Manning & Napier Advisors LLC raised its position in Sealed Air by 200.0% in the 1st quarter. Manning & Napier Advisors LLC now owns 60,000 shares of the industrial products company's stock valued at $1,734,000 after buying an additional 40,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Sealed Air in the 4th quarter valued at approximately $350,000. Institutional investors own 94.40% of the company's stock.

Analysts Set New Price Targets

A number of 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 Saturday, August 9th. 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. Truist Financial raised their price target on Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Citigroup raised their price target on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Mizuho raised their price target on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.80.

Sealed Air Stock Performance

SEE traded up $1.67 during trading on Friday, hitting $31.51. The stock had a trading volume of 4,086,263 shares, compared to its average volume of 1,375,548. The company has a 50 day moving average price of $31.01 and a 200-day moving average price of $30.67. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.33 and a beta of 1.33. Sealed Air Corporation has a one year low of $22.78 and a one year high of $38.85. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.19 and a quick ratio of 0.71.

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

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 annualized dividend and a yield of 2.5%. Sealed Air's payout ratio is currently 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.