Sealed Air Co. (NYSE:SEE) Shares Bought by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury increased its position in Sealed Air Co. (NYSE:SEE) by 7.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 73,600 shares of the industrial products company’s stock after acquiring an additional 5,023 shares during the period. State of Tennessee Department of Treasury’s holdings in Sealed Air were worth $2,490,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Manchester Capital Management LLC raised its holdings in Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after buying an additional 700 shares during the period. GAMMA Investing LLC lifted its position in Sealed Air by 218.0% in the 4th quarter. GAMMA Investing LLC now owns 1,323 shares of the industrial products company’s stock worth $45,000 after buying an additional 907 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Sealed Air during the fourth quarter valued at $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sealed Air by 148.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock valued at $51,000 after buying an additional 913 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Sealed Air by 89.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 712 shares in the last quarter. Institutional investors own 94.40% of the company’s stock.

Insider Activity at Sealed Air

In related news, Director Henry R. Keizer acquired 1,120 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $30.00 per share, for a total transaction of $33,600.00. Following the completion of the acquisition, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This trade represents a 3.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial dropped their price target on shares of Sealed Air from $44.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley decreased their target price on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Raymond James decreased their target price on shares of Sealed Air from $42.00 to $36.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reduced their price target on shares of Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com upgraded shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Sealed Air Price Performance

SEE stock opened at $27.62 on Monday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 10.15 and a beta of 1.35. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $22.78 and a 12-month high of $41.14. The company’s fifty day simple moving average is $29.05 and its 200 day simple moving average is $33.06.

Sealed Air (NYSE:SEE) last released its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. Sealed Air’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, analysts expect that Sealed Air Co. will post 3.05 earnings per share for the current year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.90%. Sealed Air’s payout ratio is 44.20%.

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.