Victory Capital Management Inc. Has $39.77 Million Stock Position in Sealed Air Co. (NYSE:SEE)

Victory Capital Management Inc. trimmed its position in Sealed Air Co. (NYSE:SEE) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,095,442 shares of the industrial products company’s stock after selling 140,775 shares during the quarter. Victory Capital Management Inc. owned approximately 0.75% of Sealed Air worth $39,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in Sealed Air in the second quarter worth about $26,000. Strategic Investment Solutions Inc. IL bought a new position in Sealed Air during the second quarter worth about $34,000. Allspring Global Investments Holdings LLC bought a new position in Sealed Air during the first quarter worth about $52,000. Covestor Ltd boosted its holdings in Sealed Air by 651.2% during the first quarter. Covestor Ltd now owns 1,615 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,400 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Sealed Air by 523.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,912 shares of the industrial products company’s stock worth $101,000 after buying an additional 2,445 shares during the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.

Sealed Air Stock Up 0.6 %

SEE stock opened at $35.86 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.79 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $5.22 billion, a PE ratio of 13.18, a PEG ratio of 4.93 and a beta of 1.34. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The business’s 50 day simple moving average is $35.48 and its 200 day simple moving average is $35.82.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 EPS. As a group, research analysts anticipate that Sealed Air Co. will post 3.07 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, December 6th. Sealed Air’s payout ratio is presently 29.41%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SEE shares. Jefferies Financial Group cut Sealed Air from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $35.00 in a report on Friday, August 9th. Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. StockNews.com cut Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Truist Financial cut their price objective on Sealed Air from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.