Macquarie Group Ltd. decreased its holdings in shares of Sealed Air Corp (NYSE:SEE) by 16.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,700 shares of the industrial products company’s stock after selling 900 shares during the period. Macquarie Group Ltd.’s holdings in Sealed Air were worth $163,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SEE. MML Investors Services LLC boosted its holdings in shares of Sealed Air by 3.9% in the fourth quarter. MML Investors Services LLC now owns 8,921 shares of the industrial products company’s stock valued at $311,000 after purchasing an additional 333 shares during the period. First Hawaiian Bank boosted its holdings in shares of Sealed Air by 2.7% in the fourth quarter. First Hawaiian Bank now owns 12,788 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 335 shares during the period. Stifel Financial Corp boosted its holdings in shares of Sealed Air by 5.8% in the fourth quarter. Stifel Financial Corp now owns 6,114 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 335 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of Sealed Air by 2.2% in the fourth quarter. Flinton Capital Management LLC now owns 15,736 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 336 shares during the period. Finally, Neuburgh Advisers LLC boosted its holdings in shares of Sealed Air by 2.2% in the fourth quarter. Neuburgh Advisers LLC now owns 19,108 shares of the industrial products company’s stock valued at $666,000 after purchasing an additional 408 shares during the period. 99.58% of the stock is currently owned by hedge funds and other institutional investors.
Sealed Air stock opened at $46.40 on Wednesday. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.92 and a beta of 1.14. Sealed Air Corp has a twelve month low of $30.22 and a twelve month high of $47.13.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.38%. Sealed Air’s dividend payout ratio is currently 25.60%.
A number of analysts recently issued reports on SEE shares. Morgan Stanley started coverage on Sealed Air in a report on Wednesday, January 16th. They issued an “equal weight” rating and a $38.00 price target for the company. ValuEngine upgraded Sealed Air from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. BMO Capital Markets upgraded Sealed Air from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, December 18th. They noted that the move was a valuation call. Zacks Investment Research lowered Sealed Air from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada upped their target price on Sealed Air to $43.00 and gave the stock a “sector perform” rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $43.40.
In related news, Director Harry A. Lawton III bought 1,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was bought at an average price of $42.33 per share, for a total transaction of $42,330.00. Following the completion of the acquisition, the director now directly owns 2,225 shares in the company, valued at $94,184.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by corporate insiders.
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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.
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