Velanne Asset Management Ltd grew its stake in shares of Sealed Air Corp (NYSE:SEE) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,494 shares of the industrial products company’s stock after purchasing an additional 2,459 shares during the period. Sealed Air makes up 2.0% of Velanne Asset Management Ltd’s investment portfolio, making the stock its 21st largest holding. Velanne Asset Management Ltd’s holdings in Sealed Air were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. W.E. Donoghue & Co. LLC purchased a new position in Sealed Air in the first quarter worth about $2,716,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Sealed Air during the first quarter valued at approximately $389,000. First Citizens Bank & Trust Co. purchased a new position in shares of Sealed Air during the first quarter valued at approximately $281,000. Geode Capital Management LLC raised its holdings in shares of Sealed Air by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 2,113,877 shares of the industrial products company’s stock valued at $73,522,000 after purchasing an additional 136,235 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Sealed Air during the fourth quarter valued at approximately $53,312,000. 99.58% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on SEE shares. Morgan Stanley started coverage on shares of Sealed Air in a research report on Wednesday, January 16th. They set an “equal weight” rating and a $38.00 target price for the company. ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. Royal Bank of Canada boosted their target price on shares of Sealed Air to $43.00 and gave the company a “sector perform” rating in a research report on Friday, February 15th. Zacks Investment Research upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. Finally, UBS Group reiterated a “sell” rating on shares of Sealed Air in a research report on Sunday, December 30th. Two investment 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’s stock. The stock has a consensus rating of “Hold” and an average target price of $43.40.
In other Sealed Air news, Director Harry A. Lawton III purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were acquired at an average cost of $42.33 per share, for a total transaction of $42,330.00. Following the transaction, the director now directly owns 2,225 shares in the company, valued at $94,184.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.
Sealed Air stock traded down $0.56 during mid-day trading on Wednesday, reaching $45.84. 15,796 shares of the company’s stock traded hands, compared to its average volume of 1,263,537. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.91 and a beta of 1.14. Sealed Air Corp has a 12-month low of $30.22 and a 12-month high of $47.13.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Thursday, February 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Sealed Air had a negative return on equity of 104.71% and a net margin of 4.08%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Sealed Air Corp will post 2.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.40%. Sealed Air’s payout ratio is presently 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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