Illinois Municipal Retirement Fund Lowers Stock Position in Sealed Air Co. (NYSE:SEE)

Illinois Municipal Retirement Fund trimmed its stake in Sealed Air Co. (NYSE:SEE) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 78,115 shares of the industrial products company’s stock after selling 1,921 shares during the period. Illinois Municipal Retirement Fund’s holdings in Sealed Air were worth $2,643,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SEE. Kwmg LLC increased its holdings in 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 purchasing an additional 6,527 shares during the last quarter. Empowered Funds LLC acquired a new position in Sealed Air during the 3rd quarter worth about $1,497,000. Maple Rock Capital Partners Inc. boosted its holdings in Sealed Air by 56.6% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 1,517,493 shares of the industrial products company’s stock valued at $55,085,000 after acquiring an additional 548,493 shares during the period. Sound Income Strategies LLC grew its position in Sealed Air by 13.8% in the 4th quarter. Sound Income Strategies LLC now owns 79,429 shares of the industrial products company’s stock valued at $2,687,000 after acquiring an additional 9,634 shares in the last quarter. Finally, Commerce Bank increased its stake in Sealed Air by 67.6% during the third quarter. Commerce Bank now owns 36,601 shares of the industrial products company’s stock worth $1,329,000 after purchasing an additional 14,766 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SEE has been the subject of several recent research reports. Truist Financial raised their price objective on shares of Sealed Air from $41.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America decreased their price target on shares of Sealed Air from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Citigroup decreased their target price on Sealed Air from $44.00 to $42.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, UBS Group increased their price target on Sealed Air from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday. Seven equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

Sealed Air Stock Down 1.7 %

SEE opened at $33.04 on Friday. Sealed Air Co. has a 52 week low of $30.87 and a 52 week high of $41.14. The business has a 50 day moving average price of $34.11 and a two-hundred day moving average price of $34.88. The company has a quick ratio of 0.79, a current ratio of 1.29 and a debt-to-equity ratio of 5.62. The company has a market cap of $4.81 billion, a PE ratio of 12.15 and a beta of 1.34.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. As a group, research analysts anticipate that Sealed Air Co. will post 3.05 EPS for the current year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.42%. Sealed Air’s dividend payout ratio is currently 44.20%.

About Sealed Air

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.