Andra AP fonden reduced its stake in Sealed Air Corp (NYSE:SEE) by 28.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,500 shares of the industrial products company’s stock after selling 44,200 shares during the period. Andra AP fonden owned 0.07% of Sealed Air worth $4,606,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Sealed Air in the second quarter worth about $1,670,000. Millennium Management LLC raised its stake in Sealed Air by 897.1% in the second quarter. Millennium Management LLC now owns 194,465 shares of the industrial products company’s stock worth $8,255,000 after buying an additional 174,962 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Sealed Air in the second quarter worth about $2,488,000. Tower Research Capital LLC TRC raised its stake in Sealed Air by 2,574.1% in the second quarter. Tower Research Capital LLC TRC now owns 21,179 shares of the industrial products company’s stock worth $899,000 after buying an additional 20,387 shares in the last quarter. Finally, Paloma Partners Management Co raised its stake in Sealed Air by 1,215.0% in the second quarter. Paloma Partners Management Co now owns 41,200 shares of the industrial products company’s stock worth $1,749,000 after buying an additional 38,067 shares in the last quarter. 96.18% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on SEE shares. Zacks Investment Research raised shares of Sealed Air from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, June 1st. KeyCorp reissued a “hold” rating on shares of Sealed Air in a research note on Thursday, August 2nd. ValuEngine raised shares of Sealed Air from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Barclays decreased their target price on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.80.
Shares of NYSE SEE opened at $40.13 on Thursday. Sealed Air Corp has a fifty-two week low of $38.49 and a fifty-two week high of $49.94. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 1.11 and a debt-to-equity ratio of -8.64.
Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. sell-side analysts anticipate that Sealed Air Corp will post 2.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Friday, September 7th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 6th. Sealed Air’s dividend payout ratio is 35.36%.
In other news, Director Jerry R. Whitaker purchased 1,000 shares of Sealed Air stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $39.81 per share, with a total value of $39,810.00. Following the completion of the transaction, the director now directly owns 8,021 shares of the company’s stock, valued at $319,316.01. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward L. Doheny II purchased 5,000 shares of Sealed Air stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $39.65 per share, with a total value of $198,250.00. Following the transaction, the insider now directly owns 78,145 shares of the company’s stock, valued at $3,098,449.25. The disclosure for this purchase can be found here. Insiders have acquired 6,600 shares of company stock valued at $262,654 in the last ninety days. Insiders own 0.63% of the company’s stock.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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