First Citizens Bank & Trust Co. bought a new stake in Sealed Air Corp (NYSE:SEE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,090 shares of the industrial products company’s stock, valued at approximately $281,000.
Other hedge funds also recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its stake in Sealed Air by 67.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,500 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,004 shares during the period. Morgan Stanley boosted its stake in Sealed Air by 6.5% in the third quarter. Morgan Stanley now owns 390,656 shares of the industrial products company’s stock valued at $15,684,000 after acquiring an additional 23,837 shares during the period. Bell Asset Management Ltd boosted its stake in 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 valued at $6,872,000 after acquiring an additional 46,601 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Sealed Air by 95.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 969 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 472 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Sealed Air by 364.0% in the third quarter. Captrust Financial Advisors now owns 2,775 shares of the industrial products company’s stock valued at $111,000 after acquiring an additional 2,177 shares during the period. Institutional investors own 99.58% of the company’s stock.
In other news, Director Harry A. Lawton III bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The shares were purchased at an average price of $42.33 per share, with a total value of $42,330.00. Following the completion of the acquisition, the director now directly owns 2,225 shares in the company, valued at $94,184.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by insiders.
A number of brokerages have commented on SEE. Zacks Investment Research downgraded Sealed Air from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. KeyCorp reaffirmed a “hold” rating on shares of Sealed Air in a report on Thursday, February 7th. Goldman Sachs Group cut Sealed Air from a “buy” rating to a “neutral” rating in a report on Friday, February 8th. They noted that the move was a valuation call. Vertical Research cut Sealed Air from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Finally, TheStreet raised Sealed Air from a “d+” rating to a “c+” rating in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.40.
SEE opened at $46.40 on Wednesday. The company has a market cap of $7.23 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Sealed Air Corp has a twelve month low of $30.22 and a twelve month high of $47.13.
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, beating the Zacks’ consensus estimate of $0.67 by $0.08. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Sealed Air had a negative return on equity of 104.71% and a net margin of 4.08%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, sell-side analysts forecast that Sealed Air Corp will post 2.72 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.38%. Sealed Air’s payout ratio is 25.60%.
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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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