BB&T Securities LLC raised its stake in shares of Sealed Air Corporation (NYSE:SEE) by 21.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,601 shares of the industrial products company’s stock after buying an additional 6,112 shares during the quarter. BB&T Securities LLC’s holdings in Sealed Air were worth $1,478,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Fiduciary Trust Co. purchased a new position in Sealed Air during the 2nd quarter valued at about $124,000. Massey Quick Simon & CO. LLC purchased a new position in Sealed Air during the 3rd quarter valued at about $140,000. Global X Management Co. LLC grew its holdings in Sealed Air by 23.7% during the 2nd quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock valued at $163,000 after buying an additional 699 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Sealed Air by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock valued at $193,000 after buying an additional 322 shares in the last quarter. Finally, King Luther Capital Management Corp purchased a new position in Sealed Air during the 2nd quarter valued at about $205,000. 93.09% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on SEE. SunTrust Banks set a $48.00 target price on Sealed Air and gave the company a “buy” rating in a report on Sunday, September 10th. Zacks Investment Research raised Sealed Air from a “sell” rating to a “hold” rating in a report on Monday, November 13th. KeyCorp reissued a “hold” rating on shares of Sealed Air in a report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and set a $47.00 price objective on shares of Sealed Air in a report on Thursday, November 9th. Finally, Citigroup lowered Sealed Air from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $52.00 to $47.00 in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $48.83.
Sealed Air Corporation (NYSE:SEE) traded down $0.41 during trading hours on Thursday, reaching $47.58. The company had a trading volume of 3,435,600 shares, compared to its average volume of 2,185,308. The company has a market cap of $8,656.74, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 6.65 and a beta of 1.23. Sealed Air Corporation has a one year low of $41.22 and a one year high of $50.62. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 4.23.
Sealed Air (NYSE:SEE) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.46. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Sealed Air had a return on equity of 67.60% and a net margin of 20.15%. Sealed Air’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS. research analysts anticipate that Sealed Air Corporation will post 1.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. Sealed Air’s payout ratio is 12.19%.
About Sealed Air
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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