First Citizens Bank & Trust Co. Acquires Shares of 6,090 Sealed Air Corp (SEE)

First Citizens Bank & Trust Co. acquired a new position in shares of Sealed Air Corp (NYSE:SEE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,090 shares of the industrial products company’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc grew its holdings in shares of Sealed Air by 3.2% during the 3rd quarter. Vanguard Group Inc now owns 18,025,501 shares of the industrial products company’s stock valued at $723,724,000 after acquiring an additional 558,305 shares in the last quarter. Marshall Wace North America L.P. grew its holdings in shares of Sealed Air by 6.1% during the 3rd quarter. Marshall Wace North America L.P. now owns 5,660,228 shares of the industrial products company’s stock valued at $227,258,000 after acquiring an additional 326,156 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Sealed Air by 6.5% during the 4th quarter. Impax Asset Management Group plc now owns 3,341,807 shares of the industrial products company’s stock valued at $116,429,000 after acquiring an additional 203,215 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sealed Air by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 3,224,462 shares of the industrial products company’s stock valued at $112,339,000 after acquiring an additional 156,104 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 valued at $73,522,000 after acquiring an additional 136,235 shares in the last quarter. Hedge funds and other institutional investors own 99.58% of the company’s stock.

SEE stock opened at $46.40 on Wednesday. Sealed Air Corp has a 1 year low of $30.22 and a 1 year high of $47.13. The firm has a market capitalization of $7.23 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings data on Thursday, February 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Sealed Air had a net margin of 4.08% and a negative return on equity of 104.71%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Sealed Air’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Sealed Air Corp will post 2.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 7th. Sealed Air’s payout ratio is presently 25.60%.

In other Sealed Air news, Director Harry A. Lawton III acquired 1,000 shares of Sealed Air stock in a transaction that occurred on Tuesday, February 19th. The stock was acquired at an average price of $42.33 per share, with a total value of $42,330.00. Following the purchase, the director now owns 2,225 shares in the company, valued at $94,184.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

Several research firms have recently commented on SEE. Zacks Investment Research cut shares of Sealed Air from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price target on shares of Sealed Air to $43.00 and gave the company a “sector perform” rating in a report on Friday, February 15th. BMO Capital Markets boosted their price target on shares of Sealed Air from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, February 11th. TheStreet upgraded shares of Sealed Air from a “d+” rating to a “c+” rating in a report on Thursday, February 7th. Finally, Robert W. Baird boosted their price target on shares of Sealed Air from $41.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Sealed Air currently has a consensus rating of “Hold” and an average target price of $43.40.

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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.

Further Reading: How mutual funds make money

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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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