Riverhead Capital Management LLC boosted its position in shares of Sealed Air (NYSE:SEE) by 10.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,241 shares of the industrial products company’s stock after buying an additional 1,168 shares during the quarter. Riverhead Capital Management LLC’s holdings in Sealed Air were worth $524,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of SEE. Creative Planning lifted its stake in shares of Sealed Air by 11.6% in the 4th quarter. Creative Planning now owns 12,717 shares of the industrial products company’s stock valued at $627,000 after purchasing an additional 1,317 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Sealed Air by 3,141,200.0% in the 4th quarter. Acadian Asset Management LLC now owns 31,413 shares of the industrial products company’s stock valued at $1,548,000 after purchasing an additional 31,412 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Sealed Air by 64.1% in the 4th quarter. State of Alaska Department of Revenue now owns 34,217 shares of the industrial products company’s stock valued at $1,685,000 after purchasing an additional 13,360 shares during the period. Jennison Associates LLC lifted its stake in shares of Sealed Air by 10.7% in the 4th quarter. Jennison Associates LLC now owns 3,498,776 shares of the industrial products company’s stock valued at $172,490,000 after purchasing an additional 336,761 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Sealed Air by 152.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,405,835 shares of the industrial products company’s stock valued at $69,309,000 after purchasing an additional 848,812 shares during the period. 97.45% of the stock is currently owned by hedge funds and other institutional investors.
SEE has been the topic of a number of analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $50.00 price target on shares of Sealed Air in a research note on Thursday, January 25th. SunTrust Banks downgraded Sealed Air from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Citigroup cut their price target on Sealed Air from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a research note on Friday, February 9th. Finally, Bank of America set a $59.00 price target on Sealed Air and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $50.64.
Shares of Sealed Air opened at $45.62 on Friday, Marketbeat.com reports. The firm has a market cap of $7.24 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. Sealed Air 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 -8.90, a quick ratio of 0.77 and a current ratio of 1.17.
Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, May 3rd. The industrial products company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Sealed Air had a return on equity of 154.85% and a net margin of 14.06%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. analysts expect that Sealed Air will post 2.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, May 31st. Sealed Air’s payout ratio is presently 35.36%.
Sealed Air declared that its board has initiated a share buyback program on Thursday, May 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
In other Sealed Air news, insider Kenneth P. Chrisman sold 7,000 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $45.01, for a total transaction of $315,070.00. Following the completion of the transaction, the insider now owns 36,218 shares in the company, valued at approximately $1,630,172.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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