Louisiana State Employees Retirement System Makes New Investment in Sealed Air Co. (NYSE:SEE)

Louisiana State Employees Retirement System bought a new position in shares of Sealed Air Co. (NYSE:SEE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 81,200 shares of the industrial products company's stock, valued at approximately $2,965,000. Louisiana State Employees Retirement System owned 0.06% of Sealed Air as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new stake in Sealed Air during the fourth quarter valued at approximately $25,000. CVA Family Office LLC purchased a new stake in shares of Sealed Air in the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Sealed Air in the 4th quarter worth about $29,000. ST Germain D J Co. Inc. purchased a new stake in Sealed Air during the 2nd quarter valued at about $33,000. Finally, Column Capital Advisors LLC grew its position in Sealed Air by 57.9% during the 3rd quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 94.40% of the company's stock.

Sealed Air Stock Down 1.6 %

Shares of SEE stock traded down $0.51 on Tuesday, hitting $31.53. The stock had a trading volume of 1,487,772 shares, compared to its average volume of 1,592,733. The business has a 50 day moving average price of $35.40 and a 200 day moving average price of $34.31. Sealed Air Co. has a one year low of $28.50 and a one year high of $48.44. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21. The company has a market cap of $4.59 billion, a PE ratio of 13.57, a P/E/G ratio of 2.68 and a beta of 1.28.

Sealed Air (NYSE:SEE - Get Free Report) last issued its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.26. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. Sealed Air's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Research analysts anticipate that Sealed Air Co. will post 2.85 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air's payout ratio is currently 33.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SEE shares. Mizuho cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Wells Fargo & Company upgraded shares of Sealed Air from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $43.00 in a research note on Thursday, January 11th. Wolfe Research assumed coverage on shares of Sealed Air in a research note on Friday, March 1st. They issued a "peer perform" rating on the stock. Finally, Truist Financial upgraded shares of Sealed Air from a "hold" rating to a "buy" rating and raised their target price for the stock from $39.00 to $44.00 in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Sealed Air currently has a consensus rating of "Hold" and an average target price of $44.18.

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.