New York State Common Retirement Fund Cuts Stock Position in Sealed Air Co. (NYSE:SEE)

New York State Common Retirement Fund reduced its stake in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 11.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 611,686 shares of the industrial products company's stock after selling 80,791 shares during the period. New York State Common Retirement Fund owned approximately 0.42% of Sealed Air worth $22,204,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in shares of Sealed Air during the 2nd quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Sealed Air in the 1st quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL bought a new stake in Sealed Air during the second quarter worth $34,000. Allspring Global Investments Holdings LLC bought a new position in shares of Sealed Air in the 1st quarter valued at about $52,000. Finally, Covestor Ltd raised its holdings in shares of Sealed Air by 651.2% in the 1st quarter. Covestor Ltd now owns 1,615 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Stock Up 0.4 %

NYSE:SEE traded up $0.14 on Tuesday, hitting $36.41. The stock had a trading volume of 981,528 shares, compared to its average volume of 1,508,058. The business's fifty day moving average is $35.24 and its 200 day moving average is $35.60. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 6.81. The company has a market cap of $5.30 billion, a PE ratio of 14.65, a P/E/G ratio of 9.26 and a beta of 1.34.

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, topping the consensus estimate of $0.64 by $0.19. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a net margin of 6.64% and a return on equity of 85.65%. The firm's revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts expect that Sealed Air Co. will post 2.93 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.20%. Sealed Air's payout ratio is 32.26%.

Wall Street Analysts Forecast Growth

SEE has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded Sealed Air from a "buy" rating to a "hold" rating and lowered their price target for the stock from $47.00 to $35.00 in a research report on Friday, August 9th. Citigroup decreased their price objective on shares of Sealed Air from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Monday, July 8th. Wells Fargo & Company lifted their target price on shares of Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 9th. Truist Financial lowered their price target on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Finally, UBS Group lowered their target price on shares of Sealed Air from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Sealed Air currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

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.