Anchor Bolt Capital LP Sells 172,671 Shares of Sealed Air Corporation (SEE)

Anchor Bolt Capital LP trimmed its stake in Sealed Air Corporation (NYSE:SEE) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,043,952 shares of the industrial products company’s stock after selling 172,671 shares during the period. Sealed Air accounts for 1.8% of Anchor Bolt Capital LP’s portfolio, making the stock its 22nd largest position. Anchor Bolt Capital LP owned 0.45% of Sealed Air worth $44,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in Sealed Air by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the industrial products company’s stock worth $542,000 after buying an additional 200 shares during the last quarter. Acadian Asset Management LLC grew its stake in Sealed Air by 3,471,300.0% during the 2nd quarter. Acadian Asset Management LLC now owns 34,714 shares of the industrial products company’s stock worth $1,554,000 after buying an additional 34,713 shares during the last quarter. Strs Ohio grew its stake in Sealed Air by 6.1% during the 2nd quarter. Strs Ohio now owns 13,302 shares of the industrial products company’s stock worth $595,000 after buying an additional 765 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Sealed Air by 270.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 23,280 shares of the industrial products company’s stock worth $1,042,000 after buying an additional 17,000 shares during the last quarter. Finally, NGAM Advisors L.P. grew its stake in Sealed Air by 18.3% during the 2nd quarter. NGAM Advisors L.P. now owns 23,591 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 3,642 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

SEE has been the topic of several research analyst reports. Bank of America set a $50.00 target price on Sealed Air and gave the stock a “buy” rating in a research note on Friday, October 13th. Robert W. Baird reiterated a “buy” rating and set a $55.00 price target on shares of Sealed Air in a research note on Friday, September 1st. BMO Capital Markets reiterated a “hold” rating and set a $47.00 price target on shares of Sealed Air in a research note on Sunday, August 27th. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Citigroup downgraded Sealed Air from a “buy” rating to a “neutral” rating and dropped their price target for the company from $52.00 to $47.00 in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $48.83.

Sealed Air Corporation (NYSE SEE) traded down $0.41 during trading on Thursday, reaching $47.58. The company’s stock had a trading volume of 3,435,600 shares, compared to its average volume of 2,185,308. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. The stock has a market cap of $8,656.74, a P/E ratio of 24.00, a PEG ratio of 6.65 and a beta of 1.23. Sealed Air Corporation has a twelve month low of $41.22 and a twelve month high of $50.62.

Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. analysts expect that Sealed Air Corporation will post 1.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. Sealed Air’s dividend payout ratio (DPR) is presently 12.19%.

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 transaction, the director now owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Emile Z. Chammas sold 6,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total value of $271,440.00. Following the completion of the transaction, the senior vice president now directly owns 142,077 shares of the company’s stock, valued at approximately $6,427,563.48. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

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Sealed Air 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.

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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