Teacher Retirement System of Texas Sells 22,497 Shares of Sealed Air Corporation (NYSE:SEE)

Teacher Retirement System of Texas reduced its position in Sealed Air Corporation (NYSE:SEE - Free Report) by 39.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,560 shares of the industrial products company's stock after selling 22,497 shares during the period. Teacher Retirement System of Texas' holdings in Sealed Air were worth $999,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Summit Trail Advisors LLC acquired a new position in Sealed Air in the 1st quarter worth about $212,000. New York State Teachers Retirement System increased its position in Sealed Air by 2.4% in the 1st quarter. New York State Teachers Retirement System now owns 170,875 shares of the industrial products company's stock worth $4,938,000 after purchasing an additional 4,043 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Sealed Air by 5.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 82,738 shares of the industrial products company's stock worth $2,391,000 after purchasing an additional 4,623 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Sealed Air by 7.0% during 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 acquiring an additional 3,664 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in shares of Sealed Air by 200.0% during 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 acquiring an additional 40,000 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.

Sealed Air Trading Up 1.3%

Shares of NYSE SEE traded up $0.40 during midday trading on Thursday, hitting $31.42. The stock had a trading volume of 1,542,956 shares, compared to its average volume of 1,545,974. The company's 50-day simple moving average is $31.82 and its 200 day simple moving average is $31.28. The firm has a market cap of $4.62 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 2.83 and a beta of 1.35. Sealed Air Corporation has a fifty-two week low of $22.78 and a fifty-two week high of $38.85. The company has a debt-to-equity ratio of 5.26, a current ratio of 1.26 and a quick ratio of 0.76.

Sealed Air (NYSE:SEE - Get Free Report) last released its 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 company had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Sealed Air had a return on equity of 65.49% and a net margin of 5.55%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Research analysts anticipate that Sealed Air Corporation will post 3.05 EPS for the current year.

Sealed Air Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.55%. Sealed Air's dividend payout ratio is currently 39.60%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SEE. Mizuho increased their price objective on Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a report on Tuesday. UBS Group increased their price objective on Sealed Air from $39.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a report on Tuesday. Wall Street Zen raised Sealed Air from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Citigroup increased their price objective on Sealed Air from $33.00 to $37.00 and gave the company a "buy" rating in a report on Friday, July 11th. Four 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.27.

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.