New York State Teachers Retirement System Sells 7,698 Shares of Sealed Air Co. (NYSE:SEE)

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System decreased its position in Sealed Air Co. (NYSE:SEE – Get Rating) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,163 shares of the industrial products company’s stock after selling 7,698 shares during the quarter. New York State Teachers Retirement System owned 0.11% of Sealed Air worth $8,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in Sealed Air by 11.1% in the 3rd quarter. Royal Bank of Canada now owns 318,545 shares of the industrial products company’s stock worth $14,179,000 after buying an additional 31,807 shares during the last quarter. Engineers Gate Manager LP lifted its position in Sealed Air by 33.8% in the 3rd quarter. Engineers Gate Manager LP now owns 11,569 shares of the industrial products company’s stock worth $515,000 after buying an additional 2,925 shares during the last quarter. Prudential PLC lifted its position in Sealed Air by 14.5% in the 3rd quarter. Prudential PLC now owns 5,527 shares of the industrial products company’s stock worth $246,000 after buying an additional 699 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Sealed Air in the 3rd quarter worth approximately $100,000. Finally, Victory Capital Management Inc. lifted its position in Sealed Air by 0.3% in the third quarter. Victory Capital Management Inc. now owns 1,612,132 shares of the industrial products company’s stock valued at $71,756,000 after purchasing an additional 5,551 shares during the last quarter. Institutional investors own 89.63% of the company’s stock.

Sealed Air Price Performance

Shares of SEE stock opened at $46.61 on Friday. The business’s fifty day moving average is $47.39 and its 200 day moving average is $48.99. The company has a quick ratio of 0.60, a current ratio of 1.02 and a debt-to-equity ratio of 9.41. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 4.02 and a beta of 1.23. Sealed Air Co. has a twelve month low of $41.24 and a twelve month high of $69.84.

Sealed Air (NYSE:SEE – Get Rating) last posted its quarterly earnings data on Thursday, February 9th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.46 billion. Sealed Air had a return on equity of 254.05% and a net margin of 8.71%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. Research analysts expect that Sealed Air Co. will post 3.65 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. Sealed Air’s dividend payout ratio (DPR) is 23.95%.

Analyst Ratings Changes

SEE has been the subject of several recent research reports. Citigroup boosted their price objective on Sealed Air from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Mizuho lowered their price objective on Sealed Air from $61.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, February 10th. UBS Group upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, April 5th. Morgan Stanley lowered their price objective on Sealed Air from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Finally, Truist Financial downgraded Sealed Air from a “buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a research report on Thursday, January 5th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.82.

Sealed Air Company Profile

(Get Rating)

Sealed Air Corp. engages in the provision of food safety and security, facility hygiene, and product protection services. It operates through the Food and Protective segments. The Food segment services perishable food processors in fresh red meat, smoked and processed meat, poultry, seafood, plant-based, and dairy markets.

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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