ING Groep NV cut its stake in Sealed Air Corp (NYSE:SEE) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,885 shares of the industrial products company’s stock after selling 1,248 shares during the period. ING Groep NV’s holdings in Sealed Air Corp were worth $431,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of Sealed Air Corp during the fourth quarter worth about $156,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Sealed Air Corp by 19.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,571 shares of the industrial products company’s stock worth $163,000 after buying an additional 578 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Sealed Air Corp by 0.8% in the first quarter. CENTRAL TRUST Co now owns 3,830 shares of the industrial products company’s stock worth $167,000 after buying an additional 30 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Sealed Air Corp during the first quarter worth about $199,000. Finally, Conning Inc. increased its position in shares of Sealed Air Corp by 1.5% in the first quarter. Conning Inc. now owns 4,754 shares of the industrial products company’s stock worth $207,000 after buying an additional 70 shares during the last quarter. 89.74% of the stock is currently owned by institutional investors.
Shares of Sealed Air Corp (NYSE:SEE) traded up 0.65% during midday trading on Friday, reaching $43.22. 681,177 shares of the company’s stock were exchanged. The company’s 50-day moving average is $43.64 and its 200-day moving average is $46.10. Sealed Air Corp has a one year low of $41.74 and a one year high of $50.62. The stock has a market cap of $8.46 billion, a P/E ratio of 24.84 and a beta of 1.27. Sealed Air Corp also saw unusually large options trading on Thursday. Stock traders acquired 17,366 call options on the stock. This is an increase of approximately 1,328% compared to the average daily volume of 1,216 call options.
Sealed Air Corp (NYSE:SEE) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Sealed Air Corp had a return on equity of 89.29% and a net margin of 7.02%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Equities analysts expect that Sealed Air Corp will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.49%. Sealed Air Corp’s payout ratio is 26.56%.
A number of analysts have recently weighed in on the stock. TheStreet downgraded shares of Sealed Air Corp from a “b” rating to a “c+” rating in a research report on Tuesday, May 9th. Credit Suisse Group AG set a $50.00 price target on shares of Sealed Air Corp and gave the stock a “buy” rating in a research note on Thursday, May 11th. Royal Bank of Canada cut shares of Sealed Air Corp from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $52.00 to $44.00 in a research note on Thursday, May 11th. They noted that the move was a valuation call. Jefferies Group LLC lowered their target price on shares of Sealed Air Corp from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Wednesday, May 10th. Finally, Bank of America Corp cut shares of Sealed Air Corp from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $48.50.
In other Sealed Air Corp news, insider Emile Z. Chammas acquired 3,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average price of $43.09 per share, with a total value of $129,270.00. Following the completion of the transaction, the insider now directly owns 148,077 shares in the company, valued at $6,380,637.93. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jerome A. Peribere acquired 6,960 shares of the stock in a transaction dated Friday, May 12th. The stock was acquired at an average cost of $42.97 per share, with a total value of $299,071.20. Following the transaction, the insider now owns 199,000 shares of the company’s stock, valued at $8,551,030. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
About Sealed Air Corp
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing a range of integrated system solutions.
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