CIBC Asset Management Inc cut its holdings in shares of Sealed Air Corp (NYSE:SEE) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,172 shares of the industrial products company’s stock after selling 424 shares during the quarter. CIBC Asset Management Inc’s holdings in Sealed Air were worth $912,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP lifted its holdings in Sealed Air by 305.8% during the 3rd quarter. Korea Investment CORP now owns 430,883 shares of the industrial products company’s stock worth $17,300,000 after buying an additional 324,700 shares in the last quarter. Morgan Stanley lifted its holdings in Sealed Air by 6.5% during the 3rd quarter. Morgan Stanley now owns 390,656 shares of the industrial products company’s stock worth $15,684,000 after buying an additional 23,837 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in Sealed Air by 3,814.1% during the 3rd quarter. Rehmann Capital Advisory Group now owns 60,082 shares of the industrial products company’s stock worth $1,496,000 after buying an additional 58,547 shares in the last quarter. Bell Asset Management Ltd lifted its holdings in Sealed Air by 30.9% during the 4th quarter. Bell Asset Management Ltd now owns 197,233 shares of the industrial products company’s stock worth $6,872,000 after buying an additional 46,601 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Sealed Air by 364.0% during the 3rd quarter. Captrust Financial Advisors now owns 2,775 shares of the industrial products company’s stock worth $111,000 after buying an additional 2,177 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.
Shares of SEE opened at $45.00 on Friday. Sealed Air Corp has a twelve month low of $30.22 and a twelve month high of $46.21. The firm has a market capitalization of $7.05 billion, a PE ratio of 18.00, a PEG ratio of 1.87 and a beta of 1.14.
Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 4.08% and a negative return on equity of 104.71%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the business earned $0.58 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Sealed Air Corp will post 2.72 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, March 7th. Sealed Air’s dividend payout ratio (DPR) is 25.60%.
A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Friday, December 14th. Zacks Investment Research upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, January 7th. TheStreet upgraded shares of Sealed Air from a “d+” rating to a “c+” rating in a report on Thursday, February 7th. Morgan Stanley assumed coverage on shares of Sealed Air in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $38.00 price objective on the stock. Finally, ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.40.
In related news, Director Harry A. Lawton III bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average cost of $42.33 per share, with a total value of $42,330.00. Following the transaction, the director now directly owns 2,225 shares of the company’s stock, valued at approximately $94,184.25. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Emile Z. Chammas bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was bought at an average cost of $33.40 per share, for a total transaction of $167,000.00. Following the completion of the transaction, the senior vice president now directly owns 169,509 shares in the company, valued at $5,661,600.60. The disclosure for this purchase can be found here. Insiders purchased a total of 13,500 shares of company stock worth $462,455 over 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. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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