Victory Capital Management Inc. Boosts Holdings in Sealed Air Co. (NYSE:SEE)

Victory Capital Management Inc. raised its stake in shares of Sealed Air Co. (NYSE:SEE) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,251,246 shares of the industrial products company’s stock after purchasing an additional 33,362 shares during the period. Victory Capital Management Inc. owned 0.87% of Sealed Air worth $45,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in shares of Sealed Air in the third quarter valued at about $895,000. Louisiana State Employees Retirement System acquired a new stake in Sealed Air during the fourth quarter worth about $2,965,000. Adage Capital Partners GP L.L.C. increased its position in Sealed Air by 66.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 250,097 shares of the industrial products company’s stock worth $8,218,000 after purchasing an additional 99,700 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Sealed Air by 45.7% during the third quarter. Envestnet Asset Management Inc. now owns 527,945 shares of the industrial products company’s stock worth $17,348,000 after purchasing an additional 165,694 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Sealed Air by 0.5% during the third quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock worth $553,809,000 after purchasing an additional 92,114 shares during the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Up 0.7 %

Shares of Sealed Air stock opened at $35.17 on Monday. Sealed Air Co. has a 52-week low of $28.50 and a 52-week high of $47.12. The company has a 50 day moving average of $34.34 and a 200 day moving average of $34.41. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 7.49. The company has a market capitalization of $5.12 billion, a P/E ratio of 14.12, a P/E/G ratio of 3.86 and a beta of 1.31.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.25. Sealed Air had a net margin of 6.61% and a return on equity of 94.93%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Sealed Air Co. will post 2.8 EPS for the current fiscal year.

Sealed Air Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.27%. Sealed Air’s dividend payout ratio is currently 32.13%.

Analyst Ratings Changes

Several research firms recently issued reports on SEE. Mizuho cut their price objective on shares of Sealed Air from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday. Wolfe Research began coverage on shares of Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Wells Fargo & Company upgraded shares of Sealed Air from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $43.00 in a research report on Thursday, January 11th. Finally, Truist Financial upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and lifted their price target for the company from $39.00 to $44.00 in a research report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.91.

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.