Sumitomo Mitsui Asset Management Company LTD lowered its position in Sealed Air Corp. (NYSE:SEE) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,273 shares of the company’s stock after selling 43 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Sealed Air Corp. were worth $699,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased its stake in Sealed Air Corp. by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,335 shares of the company’s stock worth $107,000 after buying an additional 21 shares in the last quarter. Seven Eight Capital LLC increased its stake in Sealed Air Corp. by 8.9% in the second quarter. Seven Eight Capital LLC now owns 2,443 shares of the company’s stock worth $112,000 after buying an additional 200 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Sealed Air Corp. by 128.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,730 shares of the company’s stock worth $125,000 after buying an additional 1,534 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Sealed Air Corp. during the first quarter worth about $132,000. Finally, Johnson Financial Group Inc. increased its stake in Sealed Air Corp. by 18,782.4% in the second quarter. Johnson Financial Group Inc. now owns 3,210 shares of the company’s stock worth $148,000 after buying an additional 3,193 shares in the last quarter. 88.80% of the stock is owned by institutional investors.
Sealed Air Corp. (NYSE:SEE) opened at 45.43 on Monday. Sealed Air Corp. has a 52-week low of $38.02 and a 52-week high of $52.83. The stock has a market cap of $8.82 billion, a PE ratio of 20.54 and a beta of 1.22. The firm has a 50 day moving average of $45.10 and a 200-day moving average of $46.90.
Sealed Air Corp. (NYSE:SEE) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.02. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Sealed Air Corp. had a net margin of 6.31% and a return on equity of 92.87%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. Equities analysts anticipate that Sealed Air Corp. will post $2.60 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.41%. Sealed Air Corp.’s dividend payout ratio (DPR) is presently 29.63%.
A number of research firms have recently issued reports on SEE. BMO Capital Markets reaffirmed a “hold” rating on shares of Sealed Air Corp. in a report on Sunday, July 17th. Zacks Investment Research downgraded shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Jefferies Group dropped their price objective on shares of Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a report on Friday, July 29th. SunTrust Banks Inc. began coverage on shares of Sealed Air Corp. in a report on Tuesday, July 12th. They set a “buy” rating and a $54.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Sealed Air Corp. in a report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Sealed Air Corp. presently has a consensus rating of “Buy” and an average price target of $53.33.
Sealed Air Corp. 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 processors, retailers and food service operators a range of integrated system solutions.