Canada Pension Plan Investment Board held its position in Sealed Air Corporation (NYSE:SEE) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 330,001 shares of the industrial products company’s stock at the end of the second quarter. Canada Pension Plan Investment Board’s holdings in Sealed Air Corporation were worth $14,771,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEE. Vanguard Group Inc. boosted its position in Sealed Air Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 19,607,516 shares of the industrial products company’s stock valued at $854,496,000 after buying an additional 556,555 shares during the period. BlackRock Inc. boosted its position in Sealed Air Corporation by 3,073.2% in the first quarter. BlackRock Inc. now owns 12,040,099 shares of the industrial products company’s stock valued at $524,706,000 after buying an additional 11,660,671 shares during the period. Janus Capital Management LLC boosted its position in Sealed Air Corporation by 9.0% in the first quarter. Janus Capital Management LLC now owns 10,071,664 shares of the industrial products company’s stock valued at $438,917,000 after buying an additional 834,754 shares during the period. Alliancebernstein L.P. boosted its position in Sealed Air Corporation by 0.3% in the first quarter. Alliancebernstein L.P. now owns 2,949,448 shares of the industrial products company’s stock valued at $128,537,000 after buying an additional 7,670 shares during the period. Finally, Sasco Capital Inc. CT boosted its position in Sealed Air Corporation by 11.5% in the second quarter. Sasco Capital Inc. CT now owns 2,876,927 shares of the industrial products company’s stock valued at $128,771,000 after buying an additional 297,560 shares during the period. Institutional investors own 90.70% of the company’s stock.
Shares of Sealed Air Corporation (SEE) opened at 44.95 on Wednesday. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 23.23 and a beta of 1.16. The firm’s 50-day moving average is $44.91 and its 200 day moving average is $45.07. Sealed Air Corporation has a 52-week low of $41.74 and a 52-week high of $50.62.
Sealed Air Corporation (NYSE:SEE) last posted its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. Sealed Air Corporation’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. On average, equities research analysts anticipate that Sealed Air Corporation will post $1.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio is 33.16%.
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SEE has been the subject of several research analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price target on shares of Sealed Air Corporation in a report on Friday, June 9th. UBS AG set a $49.00 price objective on shares of Sealed Air Corporation and gave the stock a “buy” rating in a research report on Wednesday, May 10th. BidaskClub raised shares of Sealed Air Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 16th. Jefferies Group LLC reissued a “hold” rating and issued a $45.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, April 18th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $55.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.27.
In other Sealed Air Corporation news, CAO William G. Stiehl sold 3,000 shares of Sealed Air Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $43.43, for a total transaction of $130,290.00. Following the transaction, the chief accounting officer now directly owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by insiders.
Sealed Air Corporation Company Profile
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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