Oregon Public Employees Retirement Fund Lowers Stake in Sealed Air Co. (NYSE:SEE)

Posted by Defense World Staff on Apr 15th, 2023

Oregon Public Employees Retirement Fund reduced its holdings in shares of Sealed Air Co. (NYSE:SEE – Get Rating) by 52.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,842 shares of the industrial products company’s stock after selling 13,300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Sealed Air were worth $591,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Sealed Air by 4.3% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,204 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 213 shares in the last quarter. CWM LLC increased its stake in Sealed Air by 17.5% during the 3rd quarter. CWM LLC now owns 1,464 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 218 shares in the last quarter. Whittier Trust Co. increased its stake in Sealed Air by 54.2% during the 4th quarter. Whittier Trust Co. now owns 666 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 234 shares in the last quarter. Congress Asset Management Co. MA increased its stake in Sealed Air by 3.0% during the 4th quarter. Congress Asset Management Co. MA now owns 8,557 shares of the industrial products company’s stock valued at $427,000 after purchasing an additional 252 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co increased its stake in Sealed Air by 4.8% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 5,731 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 265 shares in the last quarter. 89.63% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

SEE opened at $46.61 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.60 and a debt-to-equity ratio of 9.41. The company 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. The company’s 50 day moving average is $47.39 and its 200 day moving average is $48.99. Sealed Air Co. has a 12-month low of $41.24 and a 12-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 company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.46 billion. Sealed Air had a net margin of 8.71% and a return on equity of 254.05%. The firm’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 earnings per share. On average, equities research analysts predict that Sealed Air Co. will post 3.65 EPS for the current year.

Sealed Air Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of Sealed Air from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 15th. Credit Suisse Group reduced their price objective on shares of Sealed Air from $64.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, February 13th. StockNews.com lowered shares of Sealed Air from a “buy” rating to a “hold” rating in a research note on Saturday, April 8th. Wells Fargo & Company lifted their price target on shares of Sealed Air from $43.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, January 9th. Finally, UBS Group upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Wednesday, April 5th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.82.

Sealed Air Company Profile

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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.