Public Sector Pension Investment Board Has $11.35 Million Stake in Sealed Air Co. (NYSE:SEE)

Public Sector Pension Investment Board decreased its stake in Sealed Air Co. (NYSE:SEE) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 312,738 shares of the industrial products company’s stock after selling 11,300 shares during the period. Public Sector Pension Investment Board owned 0.21% of Sealed Air worth $11,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEE. Pacer Advisors Inc. bought a new position in Sealed Air during the third quarter worth about $139,800,000. Swedbank AB bought a new position in Sealed Air during the third quarter worth about $53,681,000. Millennium Management LLC grew its holdings in Sealed Air by 38.2% during the second quarter. Millennium Management LLC now owns 4,114,281 shares of the industrial products company’s stock worth $143,136,000 after purchasing an additional 1,136,985 shares during the period. Appian Way Asset Management LP grew its holdings in Sealed Air by 68.1% during the second quarter. Appian Way Asset Management LP now owns 1,349,857 shares of the industrial products company’s stock worth $46,962,000 after purchasing an additional 546,701 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 worth $58,587,000 after acquiring an additional 502,999 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports 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 report on Thursday, October 17th. Royal Bank of Canada cut their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price objective on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company raised their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Truist Financial cut their price objective on shares of Sealed Air from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Stock Up 0.8 %

NYSE SEE opened at $36.24 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. Sealed Air Co. has a 1-year low of $30.87 and a 1-year high of $41.14. The company has a 50 day moving average of $35.80 and a 200-day moving average of $35.84. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 5.01 and a beta of 1.34.

Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 2.21%. Sealed Air’s dividend payout ratio is currently 29.41%.

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.