California Public Employees Retirement System Has $9.38 Million Stock Position in Sealed Air Co. (NYSE:SEE)

California Public Employees Retirement System lessened its stake in Sealed Air Co. (NYSE:SEE) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,330 shares of the industrial products company’s stock after selling 1,657 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Sealed Air worth $9,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of Sealed Air by 148.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,530 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 913 shares in the last quarter. A&I Financial Services LLC bought a new position in Sealed Air in the 4th quarter valued at $527,000. Kwmg LLC increased its stake in shares of Sealed Air by 5.0% in the 4th quarter. Kwmg LLC now owns 136,537 shares of the industrial products company’s stock valued at $4,619,000 after buying an additional 6,527 shares during the period. Amundi increased its stake in shares of Sealed Air by 131.6% in the 4th quarter. Amundi now owns 76,479 shares of the industrial products company’s stock valued at $2,576,000 after buying an additional 43,458 shares during the period. Finally, Sound Income Strategies LLC raised its position in shares of Sealed Air by 13.8% during the fourth quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company’s stock worth $2,687,000 after acquiring an additional 9,634 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Stock Performance

Shares of SEE opened at $24.39 on Monday. The firm’s 50 day moving average price is $31.89 and its two-hundred day moving average price is $34.16. 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 twelve month low of $24.35 and a twelve month high of $41.14. The firm has a market cap of $3.55 billion, a P/E ratio of 8.97 and a beta of 1.35.

Sealed Air (NYSE:SEE) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a net margin of 7.34% and a return on equity of 74.21%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business earned $0.88 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Sealed Air Co. will post 3.05 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, March 14th. Sealed Air’s dividend payout ratio is presently 44.20%.

Analyst Ratings Changes

A number of brokerages recently commented on SEE. Bank of America lowered their price objective on Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. UBS Group raised their target price on shares of Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on Sealed Air from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley dropped their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Citigroup reduced their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

Insider Buying and Selling at Sealed Air

In other Sealed Air news, Director Henry R. Keizer purchased 1,120 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $30.00 per share, for a total transaction of $33,600.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,050,000. This represents a 3.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.