Prudential Financial Inc. trimmed its holdings in shares of Sealed Air Corp (NYSE:SEE) by 3.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 174,655 shares of the industrial products company’s stock after selling 6,282 shares during the quarter. Prudential Financial Inc.’s holdings in Sealed Air were worth $7,472,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Sealed Air by 1.7% during the second quarter. Janus Henderson Group PLC now owns 8,347,252 shares of the industrial products company’s stock worth $357,096,000 after acquiring an additional 143,411 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in shares of Sealed Air by 2.4% during the first quarter. Marshall Wace North America L.P. now owns 6,143,862 shares of the industrial products company’s stock valued at $282,986,000 after purchasing an additional 144,425 shares during the period. Rivulet Capital LLC boosted its position in shares of Sealed Air by 1.1% during the 1st quarter. Rivulet Capital LLC now owns 4,401,066 shares of the industrial products company’s stock worth $202,713,000 after purchasing an additional 48,750 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sealed Air by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 2,113,877 shares of the industrial products company’s stock worth $73,522,000 after purchasing an additional 136,235 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Sealed Air by 1.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,461,275 shares of the industrial products company’s stock worth $62,513,000 after purchasing an additional 25,990 shares in the last quarter. 97.47% of the stock is owned by institutional investors.
A number of brokerages recently commented on SEE. ValuEngine lowered Sealed Air from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Wells Fargo & Co increased their price target on Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. KeyCorp reissued a “sell” rating and issued a $39.00 price objective on shares of Sealed Air in a research note on Friday, August 2nd. Finally, Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective for the company. in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.69.
Sealed Air (NYSE:SEE) last announced its quarterly earnings results on Friday, August 2nd. The industrial products company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.16. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Sealed Air had a net margin of 7.84% and a negative return on equity of 121.14%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. Analysts expect that Sealed Air Corp will post 2.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, September 5th. Sealed Air’s dividend payout ratio is 25.60%.
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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