Public Sector Pension Investment Board Sells 11,300 Shares of Sealed Air Co. (NYSE:SEE)

Public Sector Pension Investment Board decreased its holdings in Sealed Air Co. (NYSE:SEE) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 312,738 shares of the industrial products company’s stock after selling 11,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in Sealed Air were worth $11,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Family Firm Inc. bought a new stake in Sealed Air during the second quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the second quarter valued at $34,000. Allspring Global Investments Holdings LLC boosted its position in Sealed Air by 100.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,833 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 1,422 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $101,000 after acquiring an additional 2,445 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sealed Air during the second quarter valued at $105,000. Institutional investors own 94.40% of the company’s stock.

Sealed Air Trading Up 0.8 %

SEE opened at $36.24 on Friday. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a fifty-two week low of $30.87 and a fifty-two week high of $41.14. The firm has a market capitalization of $5.28 billion, a PE ratio of 13.32, a P/E/G ratio of 5.01 and a beta of 1.34. The company’s 50-day moving average is $35.80 and its 200 day moving average is $35.84.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Sealed Air Co. will post 3.06 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, December 6th. Sealed Air’s payout ratio is 29.41%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SEE shares. JPMorgan Chase & Co. cut their price target on shares of Sealed Air from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada dropped their price objective on shares of Sealed Air from $40.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Truist Financial dropped their price objective on shares of 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 shares of 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. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.