Maryland State Retirement & Pension System Acquires 52,494 Shares of Sealed Air Co. (NYSE:SEE)

Maryland State Retirement & Pension System lifted its stake in Sealed Air Co. (NYSE:SEE) by 458.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,938 shares of the industrial products company’s stock after buying an additional 52,494 shares during the period. Maryland State Retirement & Pension System’s holdings in Sealed Air were worth $2,335,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. CVA Family Office LLC bought a new position in shares of Sealed Air in the fourth quarter worth approximately $27,000. Bruce G. Allen Investments LLC bought a new position in shares of Sealed Air during the fourth quarter valued at about $29,000. Column Capital Advisors LLC grew its stake in shares of Sealed Air by 57.9% in the third quarter. Column Capital Advisors LLC now owns 1,050 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 385 shares during the last quarter. Signaturefd LLC grew its stake in shares of Sealed Air by 80.3% in the third quarter. Signaturefd LLC now owns 1,069 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 476 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Sealed Air by 81.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 997 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 449 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.

Sealed Air Stock Up 0.1 %

Shares of SEE traded up $0.03 on Wednesday, hitting $36.38. 114,219 shares of the stock traded hands, compared to its average volume of 1,621,110. Sealed Air Co. has a one year low of $28.50 and a one year high of $47.12. The company has a market capitalization of $5.30 billion, a PE ratio of 14.60, a P/E/G ratio of 3.86 and a beta of 1.31. The business has a 50 day simple moving average of $34.36 and a 200 day simple moving average of $34.54. The company has a debt-to-equity ratio of 7.49, a quick ratio of 0.80 and a current ratio of 1.33.

Sealed Air (NYSE:SEE) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. As a group, equities analysts forecast that Sealed Air Co. will post 2.8 earnings per share for the current fiscal year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 annualized dividend and a yield of 2.20%. Sealed Air’s payout ratio is presently 32.13%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SEE. Mizuho decreased their target price on Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Truist Financial upgraded Sealed Air from a “hold” rating to a “buy” rating and upped their target price for the stock from $39.00 to $44.00 in a report on Monday, April 8th. Wells Fargo & Company upgraded Sealed Air from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $43.00 in a research report on Thursday, January 11th. Wolfe Research began coverage on shares of Sealed Air in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Sealed Air in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Sealed Air currently has an average rating of “Hold” and a consensus target price of $43.91.

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.