Sealed Air Co. (NYSE:SEE) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 51.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 129,129 shares of the industrial products company's stock after buying an additional 43,635 shares during the period. State of Alaska Department of Revenue owned approximately 0.09% of Sealed Air worth $4,686,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. GHP Investment Advisors Inc. boosted its position in shares of Sealed Air by 8.9% during the third quarter. GHP Investment Advisors Inc. now owns 40,625 shares of the industrial products company's stock valued at $1,475,000 after buying an additional 3,334 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Sealed Air by 20.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,590 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 1,441 shares during the period. Everence Capital Management Inc. grew its position in Sealed Air by 2.8% in the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock valued at $506,000 after acquiring an additional 380 shares during the last quarter. OmniStar Financial Group Inc. purchased a new stake in Sealed Air in the third quarter worth $731,000. Finally, Stonegate Investment Group LLC bought a new stake in shares of Sealed Air during the third quarter worth $212,000. 94.40% of the stock is currently owned by institutional investors.

Sealed Air Stock Up 2.3 %

Shares of SEE stock traded up $0.81 during mid-day trading on Wednesday, hitting $36.58. 865,695 shares of the stock traded hands, compared to its average volume of 1,512,839. Sealed Air Co. has a 52-week low of $29.92 and a 52-week high of $41.14. The stock has a market cap of $5.33 billion, a P/E ratio of 14.42, a P/E/G ratio of 9.13 and a beta of 1.34. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The stock's fifty day moving average is $35.10 and its two-hundred day moving average is $35.47.

Sealed Air (NYSE:SEE - Get Free Report) last posted its earnings results on Thursday, August 8th. The industrial products company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.19. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. Sealed Air's revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's payout ratio is 32.26%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SEE shares. Morgan Stanley initiated coverage on shares of Sealed Air in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price target on the stock. Truist Financial dropped their target price on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group downgraded shares of Sealed Air from a "buy" rating to a "hold" rating and decreased their price target for the company from $47.00 to $35.00 in a research note on Friday, August 9th. UBS Group reduced their price objective on Sealed Air from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com raised Sealed Air from a "hold" rating to a "buy" rating in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.

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.