Korea Investment CORP Acquires 324,700 Shares of Sealed Air Corp (SEE)

Korea Investment CORP raised its holdings in shares of Sealed Air Corp (NYSE:SEE) by 305.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 430,883 shares of the industrial products company’s stock after acquiring an additional 324,700 shares during the quarter. Korea Investment CORP’s holdings in Sealed Air were worth $17,300,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SEE. Russell Investments Group Ltd. lifted its position in shares of Sealed Air by 2.4% during the second quarter. Russell Investments Group Ltd. now owns 54,443 shares of the industrial products company’s stock worth $2,311,000 after purchasing an additional 1,275 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Sealed Air by 3.4% in the third quarter. State of Alaska Department of Revenue now owns 45,897 shares of the industrial products company’s stock valued at $1,841,000 after acquiring an additional 1,520 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in Sealed Air by 9.6% in the third quarter. Stone Ridge Asset Management LLC now owns 19,130 shares of the industrial products company’s stock valued at $768,000 after acquiring an additional 1,679 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Sealed Air by 11.8% in the second quarter. Janney Montgomery Scott LLC now owns 20,086 shares of the industrial products company’s stock valued at $853,000 after acquiring an additional 2,118 shares in the last quarter. Finally, Norinchukin Bank The raised its holdings in Sealed Air by 11.9% in the third quarter. Norinchukin Bank The now owns 20,426 shares of the industrial products company’s stock valued at $820,000 after acquiring an additional 2,166 shares in the last quarter. 93.79% of the stock is currently owned by hedge funds and other institutional investors.

SEE stock opened at $36.41 on Friday. Sealed Air Corp has a 1-year low of $30.22 and a 1-year high of $49.94. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.24.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Sealed Air Corp will post 2.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.76%. Sealed Air’s payout ratio is 35.36%.

Several analysts recently issued reports on the stock. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, August 2nd. ValuEngine raised shares of Sealed Air from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Barclays cut their price target on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, August 9th. Zacks Investment Research cut shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, Robert W. Baird cut their price target on shares of Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Sealed Air currently has an average rating of “Hold” and a consensus price target of $45.00.

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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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Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Corp (NYSE:SEE).

Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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