Victory Capital Management Inc. Boosts Holdings in Sealed Air Corporation (NYSE:SEE)

Victory Capital Management Inc. raised its holdings in shares of Sealed Air Corporation (NYSE:SEE - Free Report) by 42.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,864,927 shares of the industrial products company's stock after buying an additional 849,485 shares during the period. Victory Capital Management Inc. owned about 1.95% of Sealed Air worth $82,796,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SEE. Treasurer of the State of North Carolina grew its position in shares of Sealed Air by 0.6% during 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 buying an additional 400 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in 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. grew its position in Sealed Air by 7.2% during the first quarter. Xponance Inc. now owns 8,549 shares of the industrial products company's stock worth $247,000 after buying an additional 577 shares in the last quarter. Covestor Ltd lifted its stake in shares of Sealed Air by 26.9% in the 4th quarter. Covestor Ltd now owns 3,157 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 670 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in Sealed Air by 3.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 18,775 shares of the industrial products company's stock valued at $635,000 after buying an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Trading Up 1.3%

Shares of SEE opened at $31.42 on Friday. 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 Corporation has a 1-year low of $22.78 and a 1-year high of $38.85. The company has a market capitalization of $4.62 billion, a P/E ratio of 15.55, a P/E/G ratio of 2.83 and a beta of 1.35. The firm's 50 day simple moving average is $31.82 and its 200 day simple moving average is $31.28.

Sealed Air (NYSE:SEE - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.14. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates 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 was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Sealed Air Corporation will post 3.05 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on SEE. Wall Street Zen raised shares of Sealed Air from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Raymond James Financial reissued a "strong-buy" rating on shares of Sealed Air in a research report on Tuesday. 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 report on Wednesday, July 9th. Truist Financial boosted their price objective on shares of Sealed Air from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Citigroup increased their price objective on shares of Sealed Air from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sealed Air currently has a consensus 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.

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