Sealed Air Co. (NYSE:SEE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Sealed Air Co. (NYSE:SEE) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 609,132 shares of the industrial products company’s stock after selling 2,554 shares during the quarter. New York State Common Retirement Fund’s holdings in Sealed Air were worth $20,607,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SEE. Kwmg LLC lifted its stake in shares of Sealed Air by 5.0% during the 4th quarter. Kwmg LLC now owns 136,537 shares of the industrial products company’s stock worth $4,619,000 after purchasing an additional 6,527 shares during the period. Empowered Funds LLC acquired a new position in Sealed Air in the third quarter valued at $1,497,000. Maple Rock Capital Partners Inc. lifted its position in Sealed Air by 56.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock worth $55,085,000 after buying an additional 548,493 shares during the period. Sound Income Strategies LLC boosted its stake in Sealed Air by 13.8% in the 4th quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company’s stock worth $2,687,000 after buying an additional 9,634 shares during the last quarter. Finally, Commerce Bank grew its holdings in Sealed Air by 67.6% in the 3rd quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock valued at $1,329,000 after buying an additional 14,766 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Trading Down 2.2 %

Shares of SEE opened at $32.32 on Friday. Sealed Air Co. has a 12 month low of $30.87 and a 12 month high of $41.14. The stock’s 50-day moving average is $34.25 and its two-hundred day moving average is $34.92. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. The stock has a market cap of $4.71 billion, a PE ratio of 11.88 and a beta of 1.34.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, March 14th. Sealed Air’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SEE. Wells Fargo & Company cut their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Truist Financial increased their price target on shares of Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup decreased their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, UBS Group reduced their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

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.