Victory Capital Management Inc. Has $82.80 Million Stock Position in Sealed Air Corporation (NYSE:SEE)

Victory Capital Management Inc. raised its position in Sealed Air Corporation (NYSE:SEE - Free Report) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,864,927 shares of the industrial products company's stock after purchasing an additional 849,485 shares during the quarter. Victory Capital Management Inc. owned 1.95% of Sealed Air worth $82,796,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Treasurer of the State of North Carolina grew its stake in 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 worth $2,164,000 after acquiring an additional 400 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Sealed Air by 1.5% in the fourth 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 last quarter. Xponance Inc. increased its stake in shares of Sealed Air by 7.2% in the first quarter. Xponance Inc. now owns 8,549 shares of the industrial products company's stock worth $247,000 after acquiring an additional 577 shares during the period. Covestor Ltd increased its stake in shares of Sealed Air by 26.9% in the fourth quarter. Covestor Ltd now owns 3,157 shares of the industrial products company's stock worth $107,000 after acquiring an additional 670 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in shares of Sealed Air by 3.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,775 shares of the industrial products company's stock worth $635,000 after acquiring an additional 690 shares during the period. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Trading Down 1.5%

Sealed Air stock traded down $0.48 during trading on Monday, reaching $30.72. The company had a trading volume of 1,170,677 shares, compared to its average volume of 1,545,912. The company has a debt-to-equity ratio of 5.26, a quick ratio of 0.76 and a current ratio of 1.26. Sealed Air Corporation has a 12-month low of $22.78 and a 12-month high of $38.85. The stock's 50 day moving average price is $31.84 and its two-hundred day moving average price is $31.23. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 2.85 and a beta of 1.35.

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

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Friday, September 12th. Sealed Air's payout ratio is presently 39.60%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SEE shares. Mizuho raised their price target on shares of Sealed Air from $34.00 to $37.00 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Sealed Air in a report on Tuesday, July 15th. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group raised their price target on shares of Sealed Air from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price target on shares of Sealed Air from $39.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.27.

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.