Lord Abbett & CO. LLC raised its stake in shares of Sealed Air Corporation (NYSE:SEE) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,180,822 shares of the industrial products company’s stock after buying an additional 24,354 shares during the quarter. Lord Abbett & CO. LLC owned about 0.62% of Sealed Air Corporation worth $52,854,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Fiduciary Trust Co. purchased a new position in shares of Sealed Air Corporation during the 2nd quarter worth $124,000. Global X Management Co. LLC lifted its stake in shares of Sealed Air Corporation by 30.4% during the 1st quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 687 shares during the period. Pacer Advisors Inc. increased its holdings in Sealed Air Corporation by 8.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 322 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Sealed Air Corporation during the second quarter valued at about $201,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Sealed Air Corporation during the first quarter valued at about $196,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Several analysts have recently weighed in on SEE shares. SunTrust Banks, Inc. set a $48.00 target price on Sealed Air Corporation and gave the company a “buy” rating in a research note on Sunday, September 10th. Robert W. Baird reiterated a “buy” rating and issued a $55.00 price target on shares of Sealed Air Corporation in a research note on Friday, September 1st. Bank of America Corporation upgraded Sealed Air Corporation from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Thursday, September 21st. Barclays PLC reiterated an “equal weight” rating and issued a $45.00 price target on shares of Sealed Air Corporation in a research note on Tuesday, September 19th. Finally, BidaskClub cut shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.50.
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In other news, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total value of $150,185.00. Following the sale, the director now directly owns 38,180 shares of the company’s stock, valued at $1,638,303.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.05% of the company’s stock.
Shares of Sealed Air Corporation (SEE) traded down 0.31% during midday trading on Friday, hitting $44.60. 1,704,013 shares of the company’s stock were exchanged. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 23.05 and a beta of 1.17. Sealed Air Corporation has a 52 week low of $41.22 and a 52 week high of $50.62. The company has a 50-day moving average of $43.59 and a 200-day moving average of $44.26.
Sealed Air Corporation (NYSE:SEE) last posted its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. Equities research analysts expect that Sealed Air Corporation will post $1.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.43%. The ex-dividend date is Thursday, November 30th. Sealed Air Corporation’s dividend payout ratio (DPR) is presently 33.16%.
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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