Arizona State Retirement System Buys 348 Shares of Sealed Air Co. (NYSE:SEE)

Arizona State Retirement System raised its stake in Sealed Air Co. (NYSE:SEE) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 42,277 shares of the industrial products company’s stock after acquiring an additional 348 shares during the quarter. Arizona State Retirement System’s holdings in Sealed Air were worth $1,430,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. A&I Financial Services LLC bought a new position in Sealed Air in the fourth quarter valued at approximately $527,000. Kwmg LLC grew its stake in Sealed Air by 5.0% in the fourth quarter. Kwmg LLC now owns 136,537 shares of the industrial products company’s stock valued at $4,619,000 after purchasing an additional 6,527 shares in the last quarter. Empowered Funds LLC bought a new position in Sealed Air in the third quarter valued at approximately $1,497,000. Maple Rock Capital Partners Inc. grew its stake in Sealed Air by 56.6% in the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after purchasing an additional 548,493 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Sealed Air by 13.8% in the fourth quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company’s stock valued at $2,687,000 after purchasing an additional 9,634 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho decreased their price target on Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group set a $36.00 price objective on Sealed Air in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Sealed Air from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Bank of America cut their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Truist Financial raised their price objective on Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.25.

Sealed Air Stock Performance

NYSE:SEE opened at $30.09 on Thursday. The stock has a market cap of $4.39 billion, a P/E ratio of 11.06 and a beta of 1.32. The stock has a 50 day simple moving average of $33.68 and a 200 day simple moving average of $34.78. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 1-year low of $29.55 and a 1-year high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. Research analysts anticipate that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.66%. Sealed Air’s dividend payout ratio is presently 44.20%.

Insider Buying and Selling at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $30.00 per share, with a total value of $33,600.00. Following the acquisition, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. The trade was a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

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.