World Asset Management Inc lessened its stake in Sealed Air Corp (NYSE:SEE) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,179 shares of the industrial products company’s stock after selling 404 shares during the period. World Asset Management Inc’s holdings in Sealed Air were worth $478,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Thor Advisors LLC bought a new position in Sealed Air in the 1st quarter worth approximately $78,000. Rockefeller Capital Management L.P. bought a new position in Sealed Air in the 1st quarter worth approximately $88,000. NumerixS Investment Technologies Inc bought a new position in Sealed Air in the 1st quarter worth approximately $90,000. Quantamental Technologies LLC bought a new stake in shares of Sealed Air during the 1st quarter valued at $96,000. Finally, Private Capital Group LLC raised its position in shares of Sealed Air by 222.7% during the 1st quarter. Private Capital Group LLC now owns 2,178 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 98.28% of the company’s stock.
Several brokerages have commented on SEE. KeyCorp reiterated a “sell” rating and set a $39.00 target price on shares of Sealed Air in a research report on Friday. Zacks Investment Research cut shares of Sealed Air from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Morgan Stanley set a $44.00 target price on shares of Sealed Air and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, Bank of America cut shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 target price for the company. in a research report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.66.
Shares of Sealed Air stock traded up $3.18 on Friday, hitting $44.33. 3,222,652 shares of the company’s stock traded hands, compared to its average volume of 961,417. The firm has a 50-day moving average price of $43.25. The company has a market cap of $6.41 billion, a PE ratio of 17.73, a PEG ratio of 1.72 and a beta of 1.10. Sealed Air Corp has a one year low of $30.22 and a one year high of $47.13.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.16. Sealed Air had a net margin of 9.57% and a negative return on equity of 112.27%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The firm’s revenue was up .5% on a year-over-year basis. As a group, analysts expect that Sealed Air Corp will post 2.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Thursday, September 5th. Sealed Air’s dividend payout ratio (DPR) is 25.60%.
Sealed Air Company Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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