MUFG Americas Holdings Corp increased its stake in shares of Sealed Air Corp (NYSE:SEE) by 29.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,294 shares of the industrial products company’s stock after purchasing an additional 1,863 shares during the period. MUFG Americas Holdings Corp’s holdings in Sealed Air were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEE. Massey Quick Simon & CO. LLC purchased a new position in shares of Sealed Air during the third quarter valued at approximately $140,000. SeaCrest Wealth Management LLC purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $171,000. Beck Mack & Oliver LLC purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $207,000. Ameritas Investment Partners Inc. raised its holdings in shares of Sealed Air by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 4,772 shares of the industrial products company’s stock valued at $213,000 after purchasing an additional 70 shares during the last quarter. Finally, MHI Funds LLC purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $216,000. 90.31% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on SEE shares. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Friday, February 9th. Vertical Research raised shares of Sealed Air from a “hold” rating to a “buy” rating in a report on Monday, February 12th. SunTrust Banks cut shares of Sealed Air from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Citigroup reduced their target price on shares of Sealed Air from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sealed Air from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.31.
In other Sealed Air news, CFO William G. Stiehl sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $48.98, for a total value of $146,940.00. Following the completion of the transaction, the chief financial officer now directly owns 34,797 shares in the company, valued at $1,704,357.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.
Sealed Air Corp (NYSE:SEE) opened at $42.66 on Monday. The firm has a market cap of $7,700.00, a P/E ratio of 129.27, a price-to-earnings-growth ratio of 1.62 and a beta of 1.12. Sealed Air Corp has a 12-month low of $40.76 and a 12-month high of $49.94. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.35 and a quick ratio of 0.99.
Sealed Air (NYSE:SEE) last posted its quarterly earnings results on Thursday, February 8th. The industrial products company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.19 billion. Sealed Air had a net margin of 17.90% and a return on equity of 74.28%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. sell-side analysts anticipate that Sealed Air Corp will post 2.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a $0.16 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.50%. Sealed Air’s payout ratio is currently 193.94%.
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About Sealed Air
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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