Sealed Air Co. (NYSE:SEE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in shares of Sealed Air Co. (NYSE:SEE) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 609,132 shares of the industrial products company’s stock after selling 2,554 shares during the quarter. New York State Common Retirement Fund owned about 0.42% of Sealed Air worth $20,607,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in shares of Sealed Air by 139.4% in the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sealed Air in the 4th quarter valued at approximately $45,000. GAMMA Investing LLC boosted its holdings 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 valued at $45,000 after purchasing an additional 907 shares in the last quarter. Acuitas Investments LLC increased its position in Sealed Air by 64.3% during the 4th quarter. Acuitas Investments LLC now owns 2,300 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 900 shares during the period. Finally, Quarry LP raised its stake in shares of Sealed Air by 9.2% during the 3rd quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock worth $134,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SEE shares. Wells Fargo & Company cut their price objective on Sealed Air from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Bank of America cut their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Sealed Air from $39.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Citigroup lowered their target price 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, Mizuho reduced their price target on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Sealed Air Trading Down 2.2 %

Shares of Sealed Air stock opened at $32.32 on Friday. The business has a 50 day moving average price of $34.25 and a 200 day moving average price of $34.92. The company has a market capitalization of $4.71 billion, a P/E ratio of 11.88 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 1.29 and a quick ratio of 0.79. Sealed Air Co. has a 1 year low of $30.87 and a 1 year high of $41.14.

Sealed Air Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.20 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.48%. Sealed Air’s dividend payout ratio is currently 29.41%.

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.