State of New Jersey Common Pension Fund D Boosts Position in Sealed Air Co. (NYSE:SEE)

State of New Jersey Common Pension Fund D lifted its position in Sealed Air Co. (NYSE:SEE) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,269 shares of the industrial products company’s stock after purchasing an additional 3,514 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sealed Air were worth $2,039,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC raised its position in shares of Sealed Air by 139.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,202 shares of the industrial products company’s stock valued at $41,000 after buying an additional 700 shares during the period. Vontobel Holding Ltd. lifted its position in Sealed Air by 7.5% in the fourth quarter. Vontobel Holding Ltd. now owns 23,435 shares of the industrial products company’s stock valued at $793,000 after buying an additional 1,635 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Sealed Air by 978.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,062 shares of the industrial products company’s stock worth $635,000 after buying an additional 17,295 shares during the period. Thompson Investment Management Inc. lifted its holdings in shares of Sealed Air by 1.4% in the 4th quarter. Thompson Investment Management Inc. now owns 73,769 shares of the industrial products company’s stock worth $2,496,000 after acquiring an additional 990 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of Sealed Air by 4.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 42,373 shares of the industrial products company’s stock worth $1,433,000 after purchasing an additional 1,748 shares during the period. 94.40% of the stock is owned by hedge funds and other institutional investors.

Sealed Air Stock Performance

Shares of SEE opened at $32.32 on Monday. The company has a market capitalization of $4.71 billion, a PE ratio of 11.88 and a beta of 1.34. Sealed Air Co. has a 52-week low of $30.87 and a 52-week high of $41.14. The company has a 50-day simple moving average of $34.25 and a 200-day simple moving average of $34.92. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group decreased their target price on Sealed Air from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Bank of America dropped their price objective 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. Mizuho reduced their price objective on Sealed Air from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Truist Financial upped their price target on Sealed Air from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on Sealed Air from $39.00 to $38.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.