Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Sealed Air Corp (NYSE:SEE) by 10.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 60,376 shares of the industrial products company’s stock after acquiring an additional 5,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Sealed Air were worth $2,506,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SEE. FMR LLC lifted its position in Sealed Air by 3.1% in the first quarter. FMR LLC now owns 88,646 shares of the industrial products company’s stock valued at $4,083,000 after purchasing an additional 2,697 shares during the last quarter. WINTON GROUP Ltd lifted its position in Sealed Air by 15.0% in the second quarter. WINTON GROUP Ltd now owns 466,224 shares of the industrial products company’s stock valued at $19,945,000 after purchasing an additional 60,924 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Sealed Air by 11,926.7% during the second quarter. Contravisory Investment Management Inc. now owns 7,216 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 7,156 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Sealed Air during the second quarter valued at approximately $1,061,000. Finally, Kwmg LLC raised its holdings in shares of Sealed Air by 4.5% during the second quarter. Kwmg LLC now owns 58,597 shares of the industrial products company’s stock valued at $2,507,000 after acquiring an additional 2,512 shares in the last quarter. 96.56% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on SEE. Wells Fargo & Co upped their target price on Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, August 6th. KeyCorp upgraded Sealed Air from an “underweight” rating to a “sector weight” rating in a report on Wednesday. They noted that the move was a valuation call. ValuEngine downgraded Sealed Air from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Finally, Citigroup decreased their target price on Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $43.29.
Shares of SEE stock opened at $38.82 on Friday. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.56 and a beta of 1.07. The business’s fifty day moving average is $41.08 and its 200 day moving average is $42.50. Sealed Air Corp has a twelve month low of $32.33 and a twelve month high of $47.13.
Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, equities research analysts predict that Sealed Air Corp will post 2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.16 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.64 annualized dividend and a yield of 1.65%. Sealed Air’s payout ratio is 25.60%.
Sealed Air Company Profile
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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