Massey Quick Simon & CO. LLC purchased a new stake in shares of Sealed Air Corporation (NYSE:SEE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,287 shares of the industrial products company’s stock, valued at approximately $140,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in shares of Sealed Air Corporation during the 2nd quarter valued at approximately $124,000. Global X Management Co. LLC raised its holdings in Sealed Air Corporation by 23.7% during the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock valued at $163,000 after buying an additional 699 shares during the period. Pacer Advisors Inc. raised its holdings in Sealed Air Corporation by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after buying an additional 322 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Sealed Air Corporation during the 2nd quarter valued at $201,000. Finally, King Luther Capital Management Corp purchased a new stake in Sealed Air Corporation during the 2nd quarter valued at $205,000. Institutional investors and hedge funds own 91.71% of the company’s stock.
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In other news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of the sale, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is currently owned by insiders.
Sealed Air Corporation (SEE) traded up $0.12 during trading hours on Wednesday, reaching $45.10. The company’s stock had a trading volume of 2,521,000 shares, compared to its average volume of 2,166,976. Sealed Air Corporation has a 12 month low of $41.22 and a 12 month high of $50.62. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market capitalization of $10,370.00, a P/E ratio of 22.49, a P/E/G ratio of 6.25 and a beta of 1.21.
Sealed Air Corporation (NYSE:SEE) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. Sealed Air Corporation had a return on equity of 67.60% and a net margin of 20.15%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. equities analysts expect that Sealed Air Corporation will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.42%. Sealed Air Corporation’s dividend payout ratio is currently 61.54%.
SEE has been the topic of several research analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Sealed Air Corporation in a research report on Thursday, July 20th. Zacks Investment Research downgraded Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub downgraded Sealed Air Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and set a $47.00 price objective on shares of Sealed Air Corporation in a research note on Thursday, November 9th. Finally, Barclays PLC upped their price objective on Sealed Air Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.75.
Sealed Air Corporation Company Profile
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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