Victory Capital Management Inc. Has $39.77 Million Stock Holdings in Sealed Air Co. (NYSE:SEE)

Victory Capital Management Inc. trimmed its position in Sealed Air Co. (NYSE:SEE) by 11.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,095,442 shares of the industrial products company’s stock after selling 140,775 shares during the period. Victory Capital Management Inc.’s holdings in Sealed Air were worth $39,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SEE. Allspring Global Investments Holdings LLC acquired a new position in Sealed Air in the 1st quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sealed Air in the 1st quarter valued at $582,000. Sei Investments Co. lifted its position in shares of Sealed Air by 2.4% during the 1st quarter. Sei Investments Co. now owns 247,892 shares of the industrial products company’s stock valued at $9,222,000 after acquiring an additional 5,750 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Sealed Air by 0.8% during the 1st quarter. Russell Investments Group Ltd. now owns 357,836 shares of the industrial products company’s stock valued at $13,312,000 after acquiring an additional 2,964 shares during the period. Finally, US Bancorp DE lifted its position in shares of Sealed Air by 9.9% during the 1st quarter. US Bancorp DE now owns 61,867 shares of the industrial products company’s stock valued at $2,301,000 after acquiring an additional 5,554 shares during the period. 94.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SEE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on Sealed Air from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Jefferies Financial Group downgraded Sealed Air from a “buy” rating to a “hold” rating and cut their target price for the company from $47.00 to $35.00 in a research report on Friday, August 9th. Raymond James upgraded Sealed Air from a “market perform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Thursday, October 17th. StockNews.com downgraded Sealed Air from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada cut their target price on Sealed Air from $40.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Sealed Air Price Performance

Shares of SEE stock opened at $35.86 on Friday. 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 twelve month low of $30.87 and a twelve month high of $41.14. The company has a market cap of $5.22 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.93 and a beta of 1.34. The business has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $35.82.

Sealed Air (NYSE:SEE) last issued its earnings results on Thursday, November 7th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. Sealed Air had a return on equity of 74.21% and a net margin of 7.34%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Sealed Air Co. will post 3.07 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. 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.