New Mexico Educational Retirement Board reduced its stake in shares of Sealed Air Corp (NYSE:SEE) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,560 shares of the industrial products company’s stock after selling 800 shares during the period. New Mexico Educational Retirement Board’s holdings in Sealed Air were worth $472,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. PGGM Investments grew its holdings in Sealed Air by 41.9% in the fourth quarter. PGGM Investments now owns 547,000 shares of the industrial products company’s stock worth $19,057,000 after purchasing an additional 161,494 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Sealed Air by 8.1% in the fourth quarter. IFM Investors Pty Ltd now owns 9,883 shares of the industrial products company’s stock worth $344,000 after buying an additional 742 shares in the last quarter. Bell Asset Management Ltd lifted its stake in shares of Sealed Air by 30.9% in the fourth quarter. Bell Asset Management Ltd now owns 197,233 shares of the industrial products company’s stock worth $6,872,000 after buying an additional 46,601 shares in the last quarter. DNB Asset Management AS lifted its stake in shares of Sealed Air by 38.8% in the fourth quarter. DNB Asset Management AS now owns 26,897 shares of the industrial products company’s stock worth $937,000 after buying an additional 7,518 shares in the last quarter. Finally, First Hawaiian Bank lifted its stake in shares of Sealed Air by 2.7% in the fourth quarter. First Hawaiian Bank now owns 12,788 shares of the industrial products company’s stock worth $446,000 after buying an additional 335 shares in the last quarter. 94.97% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on SEE shares. Bank of America upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday, December 14th. UBS Group set a $45.00 price objective on shares of Sealed Air and gave the company a “buy” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, January 7th. TheStreet upgraded shares of Sealed Air from a “d+” rating to a “c+” rating in a research report on Thursday. Finally, Morgan Stanley began coverage on shares of Sealed Air in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $38.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $43.40.
In other news, insider Edward L. Doheny II acquired 7,500 shares of Sealed Air stock in a transaction dated Monday, December 17th. The stock was purchased at an average cost of $33.75 per share, with a total value of $253,125.00. Following the completion of the purchase, the insider now directly owns 85,645 shares in the company, valued at approximately $2,890,518.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Emile Z. Chammas acquired 5,000 shares of Sealed Air stock in a transaction dated Monday, December 17th. The stock was purchased at an average cost of $33.40 per share, with a total value of $167,000.00. Following the completion of the purchase, the senior vice president now owns 169,509 shares of the company’s stock, valued at $5,661,600.60. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.
SEE opened at $42.89 on Monday. Sealed Air Corp has a 1-year low of $30.22 and a 1-year high of $46.21. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.29 and a beta of 1.13.
Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. Sealed Air had a net margin of 4.08% and a negative return on equity of 104.71%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.58 earnings per share. On average, sell-side analysts predict that Sealed Air Corp will post 2.72 EPS for the current fiscal year.
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About Sealed Air
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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