Sealed Air Co. (NYSE:SEE) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 11.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,755 shares of the industrial products company's stock after purchasing an additional 59,623 shares during the quarter. New York State Common Retirement Fund owned 0.39% of Sealed Air worth $20,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CVA Family Office LLC bought a new stake in Sealed Air in the fourth quarter valued at approximately $27,000. Bruce G. Allen Investments LLC bought a new stake in Sealed Air in the fourth quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV lifted its position in Sealed Air by 81.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 449 shares during the last quarter. Column Capital Advisors LLC lifted its position in Sealed Air by 57.9% in the third 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. Finally, Signaturefd LLC lifted its stake in Sealed Air by 80.3% in the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company's stock worth $35,000 after acquiring an additional 476 shares during the period. Hedge funds and other institutional investors own 94.40% of the company's stock.

Sealed Air Stock Performance

NYSE SEE traded up $0.38 during trading hours on Friday, hitting $31.74. The company's stock had a trading volume of 1,227,161 shares, compared to its average volume of 1,559,339. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $48.44. The company's 50 day simple moving average is $34.64 and its two-hundred day simple moving average is $34.32. The company has a market cap of $4.62 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 3.48 and a beta of 1.28. The company has a debt-to-equity ratio of 8.21, a current ratio of 1.30 and a quick ratio of 0.79.

Sealed Air (NYSE:SEE - Get Free Report) last announced its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.26. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. Sealed Air had a return on equity of 107.48% and a net margin of 6.22%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts expect that Sealed Air Co. will post 2.8 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Sealed Air's payout ratio is currently 33.90%.

Wall Street Analyst Weigh In

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

Sealed Air 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.