Principal Financial Group Inc. Sells 29,364 Shares of Sealed Air Co. (NYSE:SEE)

Principal Financial Group Inc. decreased its holdings in shares of Sealed Air Co. (NYSE:SEE - Free Report) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 693,886 shares of the industrial products company's stock after selling 29,364 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Sealed Air worth $25,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Sealed Air by 6.7% in the 3rd quarter. Tidal Investments LLC now owns 32,519 shares of the industrial products company's stock valued at $1,180,000 after buying an additional 2,051 shares during the period. Sanctuary Advisors LLC boosted its position in Sealed Air by 120.5% during the third quarter. Sanctuary Advisors LLC now owns 45,829 shares of the industrial products company's stock valued at $1,645,000 after purchasing an additional 25,046 shares during the last quarter. Neo Ivy Capital Management increased its position in Sealed Air by 187.3% in the 3rd quarter. Neo Ivy Capital Management now owns 66,300 shares of the industrial products company's stock worth $2,406,000 after purchasing an additional 43,220 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sealed Air by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,300,809 shares of the industrial products company's stock valued at $83,542,000 after buying an additional 12,559 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Sealed Air by 26.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 57,141 shares of the industrial products company's stock valued at $2,074,000 after acquiring an additional 11,976 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Wall Street Analyst Weigh In

SEE has been the subject of several analyst reports. Royal Bank of Canada reduced their price objective on shares of Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a research note on Thursday, October 17th. Truist Financial decreased their price target on Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Raymond James upgraded Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 target price for the company in a report on Thursday, October 17th. StockNews.com upgraded Sealed Air from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th. Finally, Morgan Stanley assumed coverage on shares of Sealed Air in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $39.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $41.00.

Sealed Air Stock Performance

Shares of NYSE:SEE traded up $0.26 on Thursday, hitting $34.29. 977,120 shares of the company were exchanged, compared to its average volume of 1,502,308. The company's 50 day moving average price is $35.86 and its two-hundred day moving average price is $35.45. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 4.97 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.79 and a current ratio of 1.29. Sealed Air Co. has a one year low of $30.87 and a one year high of $41.14.

Sealed Air (NYSE:SEE - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS. Research analysts expect that Sealed Air Co. will post 3.06 earnings per share for the current year.

Sealed Air Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, December 6th. Sealed Air's payout ratio is 29.41%.

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.