Asset Management One Co. Ltd. lessened its stake in shares of Sealed Air Corporation (NYSE:SEE) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 299,134 shares of the industrial products company’s stock after selling 16,593 shares during the quarter. Asset Management One Co. Ltd. owned about 0.13% of Sealed Air worth $12,783,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SEE. Strs Ohio lifted its position in shares of Sealed Air by 6.1% during the 2nd quarter. Strs Ohio now owns 13,302 shares of the industrial products company’s stock worth $595,000 after buying an additional 765 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Sealed Air by 3.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,462 shares of the industrial products company’s stock worth $289,000 after buying an additional 228 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Sealed Air by 1.5% during the 2nd quarter. Retirement Systems of Alabama now owns 94,940 shares of the industrial products company’s stock worth $4,250,000 after buying an additional 1,417 shares during the last quarter. Global X Management Co. LLC lifted its position in shares of Sealed Air by 23.7% during the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock worth $163,000 after buying an additional 699 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Sealed Air by 9.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 628,487 shares of the industrial products company’s stock worth $28,132,000 after buying an additional 52,059 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.
Several analysts have recently weighed in on the stock. Barclays upgraded shares of Sealed Air from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $46.00 to $53.00 in a research report on Friday. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price target on shares of Sealed Air in a research report on Wednesday, September 13th. Bank of America upgraded shares of Sealed Air from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, September 21st. Jefferies Group reissued a “hold” rating and issued a $44.00 price objective on shares of Sealed Air in a research note on Thursday, September 14th. Finally, SunTrust Banks reissued a “buy” rating and issued a $48.00 price objective on shares of Sealed Air in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $49.42.
Sealed Air Corporation (NYSE:SEE) traded up $0.65 during trading hours on Friday, hitting $48.68. 3,952,248 shares of the stock were exchanged, compared to its average volume of 2,393,670. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.34 and a current ratio of 1.70. Sealed Air Corporation has a fifty-two week low of $41.22 and a fifty-two week high of $50.62. The firm has a market cap of $8,665.76, a PE ratio of 24.02, a PEG ratio of 6.66 and a beta of 1.23.
Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.46 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.46. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Sealed Air had a net margin of 20.15% and a return on equity of 67.60%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. analysts forecast that Sealed Air Corporation will post 1.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.31%. Sealed Air’s payout ratio is 12.19%.
In related news, SVP Emile Z. Chammas sold 6,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $45.24, for a total value of $271,440.00. Following the sale, the senior vice president now directly owns 142,077 shares of the company’s stock, valued at approximately $6,427,563.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lawrence R. Codey sold 3,500 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the completion of the sale, the director now directly owns 38,180 shares in the company, valued at $1,638,303.80. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by corporate insiders.
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Sealed Air Company Profile
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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