Principal Financial Group Inc. Purchases 18,709 Shares of Sealed Air Co. (NYSE:SEE)

Principal Financial Group Inc. boosted its position in shares of Sealed Air Co. (NYSE:SEE) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 712,595 shares of the industrial products company’s stock after acquiring an additional 18,709 shares during the quarter. Principal Financial Group Inc.’s holdings in Sealed Air were worth $24,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its position in Sealed Air by 139.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 700 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Sealed Air by 218.0% in the fourth 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Sealed Air in the fourth quarter valued at about $45,000. Quarry LP raised its position in shares of Sealed Air by 9.2% in the third quarter. Quarry LP now owns 3,701 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 311 shares during the period. Finally, KBC Group NV raised its position in shares of Sealed Air by 20.1% in the third quarter. KBC Group NV now owns 4,595 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 769 shares during the period. 94.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SEE has been the topic of several research analyst reports. Mizuho dropped their price objective on shares of Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley dropped 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 research report on Monday, January 13th. Truist Financial increased their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com raised shares of Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Sealed Air from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned 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 target price of $40.00.

Sealed Air Trading Down 2.2 %

Shares of Sealed Air stock opened at $32.32 on Monday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.88 and a beta of 1.34. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. Sealed Air Co. has a 12-month low of $30.87 and a 12-month high of $41.14. The firm’s 50-day moving average price is $34.25 and its two-hundred day moving average price is $34.92.

Sealed Air Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. 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.