Public Employees Retirement System of Ohio cut its holdings in shares of Sealed Air Co. (NYSE:SEE – Free Report) by 4.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,832 shares of the industrial products company’s stock after selling 2,631 shares during the period. Public Employees Retirement System of Ohio’s holdings in Sealed Air were worth $1,918,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Millennium Management LLC boosted its position in Sealed Air by 38.2% during the 2nd quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock valued at $143,136,000 after acquiring an additional 1,136,985 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Sealed Air during the third quarter valued at about $139,800,000. Dimensional Fund Advisors LP grew its stake in Sealed Air by 33.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in Sealed Air by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 1,856,020 shares of the industrial products company’s stock worth $64,571,000 after purchasing an additional 24,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sealed Air by 45.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,613,957 shares of the industrial products company’s stock valued at $58,587,000 after buying an additional 502,999 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.
Sealed Air Trading Down 3.4 %
Sealed Air stock opened at $34.32 on Thursday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 4.97 and a beta of 1.34. The stock has a 50-day moving average price of $36.02 and a 200 day moving average price of $35.66.
Sealed Air Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.33%. Sealed Air’s payout ratio is 29.41%.
Wall Street Analyst Weigh In
Several research firms recently commented on SEE. Raymond James upgraded shares of Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research note on Thursday, October 17th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Truist Financial lowered their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Morgan Stanley started coverage on Sealed Air in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $39.00 target price on the stock. Finally, Royal Bank of Canada decreased their price target on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, October 17th. Seven 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 company’s stock. According to data from MarketBeat.com, Sealed Air presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.
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.
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