Oppenheimer & Co. Inc. trimmed its stake in Sealed Air Corp (NYSE:SEE) by 6.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 41,792 shares of the industrial products company’s stock after selling 2,674 shares during the period. Oppenheimer & Co. Inc.’s holdings in Sealed Air were worth $1,735,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Sealed Air by 3.1% in the first quarter. FMR LLC now owns 88,646 shares of the industrial products company’s stock valued at $4,083,000 after purchasing an additional 2,697 shares in the last quarter. WINTON GROUP Ltd raised its position in Sealed Air by 15.0% in the 2nd quarter. WINTON GROUP Ltd now owns 466,224 shares of the industrial products company’s stock valued at $19,945,000 after purchasing an additional 60,924 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Sealed Air by 11,926.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 7,216 shares of the industrial products company’s stock valued at $309,000 after purchasing an additional 7,156 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Sealed Air in the 2nd quarter valued at $1,061,000. Finally, Kwmg LLC raised its position in Sealed Air by 4.5% during the 2nd quarter. Kwmg LLC now owns 58,597 shares of the industrial products company’s stock worth $2,507,000 after buying an additional 2,512 shares during the last quarter. 96.56% of the stock is currently owned by institutional investors and hedge funds.
SEE has been the topic of a number of recent analyst reports. ValuEngine cut shares of Sealed Air from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Citigroup lowered their price objective on shares of Sealed Air from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. KeyCorp raised shares of Sealed Air from an “underweight” rating to a “sector weight” rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Sealed Air presently has an average rating of “Hold” and a consensus target price of $43.29.
Shares of Sealed Air stock opened at $38.73 on Thursday. The company’s 50-day moving average price is $41.13 and its two-hundred day moving average price is $42.53. The stock has a market cap of $6.45 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07. Sealed Air Corp has a 52 week low of $32.33 and a 52 week high of $47.13.
Sealed Air (NYSE:SEE) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Sealed Air Corp will post 2.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.64 annualized dividend and a yield of 1.65%. Sealed Air’s dividend payout ratio (DPR) is currently 25.60%.
About Sealed Air
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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