Goldman Sachs Group Inc. cut its holdings in Sealed Air Corp (NYSE:SEE) by 55.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,047,163 shares of the industrial products company’s stock after selling 1,310,346 shares during the period. Goldman Sachs Group Inc. owned 0.68% of Sealed Air worth $41,708,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Penserra Capital Management LLC increased its stake in shares of Sealed Air by 42.0% in the fourth quarter. Penserra Capital Management LLC now owns 2,562 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 758 shares during the period. Guggenheim Capital LLC increased its stake in shares of Sealed Air by 266.4% in the fourth quarter. Guggenheim Capital LLC now owns 111,851 shares of the industrial products company’s stock worth $4,454,000 after purchasing an additional 81,326 shares during the period. UBS Group AG increased its stake in shares of Sealed Air by 6.7% in the fourth quarter. UBS Group AG now owns 491,598 shares of the industrial products company’s stock worth $19,579,000 after purchasing an additional 30,845 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Sealed Air by 1.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 147,954 shares of the industrial products company’s stock worth $5,893,000 after purchasing an additional 2,040 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Sealed Air by 8.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 44,061 shares of the industrial products company’s stock worth $1,755,000 after purchasing an additional 3,433 shares during the period. Institutional investors and hedge funds own 93.38% of the company’s stock.
Shares of SEE opened at $24.02 on Thursday. Sealed Air Corp has a 12-month low of $17.06 and a 12-month high of $47.13. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 1.26 and a beta of 1.03. The stock’s 50-day moving average price is $30.40 and its 200 day moving average price is $37.22.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Tuesday, February 11th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. Sealed Air had a negative return on equity of 155.41% and a net margin of 5.49%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that Sealed Air Corp will post 2.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, March 5th. This represents a $0.64 annualized dividend and a yield of 2.66%. Sealed Air’s dividend payout ratio is 22.70%.
SEE has been the topic of a number of recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Sealed Air in a research note on Tuesday, February 11th. Cfra upgraded Sealed Air from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research note on Wednesday, February 12th. Robert W. Baird reiterated a “buy” rating and issued a $50.00 price objective on shares of Sealed Air in a research note on Wednesday, February 12th. Wells Fargo & Co lowered their price target on Sealed Air from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America upgraded Sealed Air from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Sealed Air has an average rating of “Hold” and a consensus price target of $40.29.
In related news, Director Patrick Duff acquired 15,000 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $35.00 per share, with a total value of $525,000.00. Following the completion of the acquisition, the director now owns 106,625 shares of the company’s stock, valued at $3,731,875. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Karl R. Deily sold 13,233 shares of Sealed Air stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $34.47, for a total value of $456,141.51. Following the sale, the senior vice president now directly owns 261,501 shares in the company, valued at $9,013,939.47. The disclosure for this sale can be found here. Insiders have purchased 49,000 shares of company stock worth $1,472,070 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.
About Sealed Air
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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