81,200 Shares in Sealed Air Co. (NYSE:SEE) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Sealed Air Co. (NYSE:SEE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. 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 approximately 0.06% of Sealed Air as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in shares of Sealed Air in the 3rd quarter valued at $895,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Sealed Air by 66.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock valued at $8,218,000 after acquiring an additional 99,700 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Sealed Air by 45.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock valued at $17,348,000 after acquiring an additional 165,694 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sealed Air by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after acquiring an additional 92,114 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Sealed Air by 23.1% in the 3rd quarter. Deutsche Bank AG now owns 566,020 shares of the industrial products company’s stock valued at $18,599,000 after acquiring an additional 106,144 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Analysts Set New Price Targets

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

Sealed Air Stock Performance

Shares of SEE opened at $32.03 on Tuesday. The firm has a market capitalization of $4.66 billion, a P/E ratio of 13.57, a P/E/G ratio of 2.68 and a beta of 1.28. The company has a debt-to-equity ratio of 8.21, a quick ratio of 0.79 and a current ratio of 1.30. The stock has a 50 day moving average price of $35.40 and a two-hundred day moving average price of $34.31. Sealed Air Co. has a 52 week low of $28.50 and a 52 week high of $48.44.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 27th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.26. The company had revenue of $1.38 billion during 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 quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Equities analysts forecast that Sealed Air Co. will post 2.85 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, March 7th. Sealed Air’s dividend payout ratio is presently 33.90%.

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.