Macquarie Group Ltd. increased its stake in shares of Sealed Air Corporation (NYSE:SEE) by 647.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,439 shares of the industrial products company’s stock after acquiring an additional 25,500 shares during the period. Macquarie Group Ltd.’s holdings in Sealed Air were worth $1,258,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. Fiduciary Trust Co. bought a new stake in Sealed Air during the second quarter worth about $124,000. Massey Quick Simon & CO. LLC bought a new stake in Sealed Air during the third quarter worth about $140,000. Global X Management Co. LLC raised its holdings in Sealed Air by 23.7% during the second quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 699 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Sealed Air by 8.1% during the second quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 322 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in Sealed Air during the second quarter worth about $205,000. Institutional investors and hedge funds own 93.09% of the company’s stock.
In other news, SVP Emile Z. Chammas sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $45.24, for a total value of $271,440.00. Following the transaction, the senior vice president now owns 142,077 shares of the company’s stock, valued at $6,427,563.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence R. Codey sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were 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 directly owns 38,180 shares in the company, valued at approximately $1,638,303.80. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
Sealed Air Corporation (NYSE SEE) traded down $0.17 during trading on Friday, hitting $47.79. The stock had a trading volume of 2,368,079 shares, compared to its average volume of 2,311,226. Sealed Air Corporation has a 52 week low of $41.22 and a 52 week high of $50.62. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $8,651.33, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 6.65 and a beta of 1.23.
Sealed Air (NYSE:SEE) last posted its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. sell-side analysts predict that Sealed Air Corporation will post 1.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, November 30th. Sealed Air’s payout ratio is 12.19%.
SEE has been the topic of a number of recent analyst reports. Bank of America set a $50.00 price target on Sealed Air and gave the stock a “buy” rating in a research report on Friday, October 13th. Robert W. Baird reissued a “buy” rating and set a $55.00 price target on shares of Sealed Air in a research report on Friday, September 1st. BMO Capital Markets reissued a “hold” rating and set a $47.00 price target on shares of Sealed Air in a research report on Sunday, August 27th. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Citigroup downgraded Sealed Air from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $52.00 to $47.00 in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.83.
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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.
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