Victory Capital Management Inc. Sells 140,775 Shares of Sealed Air Co. (NYSE:SEE)

Victory Capital Management Inc. decreased its position in Sealed Air Co. (NYSE:SEE - Free Report) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,095,442 shares of the industrial products company's stock after selling 140,775 shares during the quarter. Victory Capital Management Inc. owned about 0.75% of Sealed Air worth $39,765,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. increased its stake in shares of Sealed Air by 2.8% during the 3rd quarter. Everence Capital Management Inc. now owns 13,940 shares of the industrial products company's stock worth $506,000 after purchasing an additional 380 shares during the last quarter. United Services Automobile Association increased its position in Sealed Air by 3.5% during the second quarter. United Services Automobile Association now owns 11,533 shares of the industrial products company's stock worth $401,000 after buying an additional 393 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Sealed Air by 1.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 36,643 shares of the industrial products company's stock valued at $1,275,000 after buying an additional 467 shares in the last quarter. Sendero Wealth Management LLC lifted its position in shares of Sealed Air by 7.2% in the third quarter. Sendero Wealth Management LLC now owns 8,215 shares of the industrial products company's stock worth $298,000 after buying an additional 550 shares during the last quarter. Finally, MADDEN SECURITIES Corp increased its holdings in shares of Sealed Air by 9.1% during the 2nd quarter. MADDEN SECURITIES Corp now owns 7,210 shares of the industrial products company's stock valued at $251,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company's stock.

Sealed Air Stock Performance

Shares of NYSE:SEE traded up $0.23 during trading on Friday, hitting $35.86. 868,826 shares of the stock were exchanged, compared to its average volume of 1,520,597. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 4.93 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 1-year low of $30.87 and a 1-year high of $41.14. The company's fifty day simple moving average is $35.48 and its 200-day simple moving average is $35.85.

Sealed Air (NYSE:SEE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The business's revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that Sealed Air Co. will post 3.07 EPS for the current fiscal year.

Sealed Air Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Friday, December 6th. Sealed Air's dividend payout ratio (DPR) is presently 29.41%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SEE shares. Royal Bank of Canada reduced their target price on Sealed Air from $40.00 to $39.00 and set a "sector perform" rating for the company in a report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on shares of Sealed Air from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 9th. StockNews.com lowered shares of Sealed Air from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Truist Financial cut their target price on shares of Sealed Air from $44.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. Finally, Raymond James raised Sealed Air from a "market perform" rating to a "strong-buy" rating and set a $42.00 price target on the stock in a research report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.