South Dakota Investment Council Sells 1,900 Shares of Sealed Air Co. (NYSE:SEE)

South Dakota Investment Council reduced its stake in shares of Sealed Air Co. (NYSE:SEE) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,883 shares of the industrial products company’s stock after selling 1,900 shares during the quarter. South Dakota Investment Council owned 0.10% of Sealed Air worth $5,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SEE. Treasurer of the State of North Carolina lifted its holdings in Sealed Air by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 63,143 shares of the industrial products company’s stock worth $2,075,000 after buying an additional 320 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Sealed Air by 4.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,824 shares of the industrial products company’s stock worth $286,000 after buying an additional 342 shares during the period. Yousif Capital Management LLC lifted its holdings in Sealed Air by 1.5% in the third quarter. Yousif Capital Management LLC now owns 24,127 shares of the industrial products company’s stock worth $793,000 after buying an additional 348 shares during the period. Column Capital Advisors LLC lifted its holdings 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 worth $35,000 after buying an additional 385 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Sealed Air by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 11,273 shares of the industrial products company’s stock worth $370,000 after buying an additional 389 shares during the period. 94.40% of the stock is owned by institutional investors.

Sealed Air Trading Up 0.8 %

NYSE:SEE traded up $0.26 during mid-day trading on Wednesday, hitting $31.74. 681,098 shares of the stock traded hands, compared to its average volume of 1,569,803. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 3.44 and a beta of 1.28. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $48.44. The firm’s 50 day moving average is $34.91 and its two-hundred day moving average is $34.31. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 8.21.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a net margin of 6.22% and a return on equity of 107.48%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. On average, equities research analysts predict that Sealed Air Co. will post 2.83 earnings per share for the current year.

Sealed Air Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.