Principal Financial Group Inc. boosted its position in shares of Sealed Air Corp. (NYSE:SEE) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,305 shares of the company’s stock after buying an additional 9,842 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Sealed Air Corp. worth $13,897,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brown Advisory Inc. bought a new stake in Sealed Air Corp. during the second quarter valued at approximately $589,000. Prudential Financial Inc. raised its stake in Sealed Air Corp. by 12.1% in the second quarter. Prudential Financial Inc. now owns 272,735 shares of the company’s stock valued at $12,538,000 after buying an additional 29,342 shares during the period. Dimensional Fund Advisors LP raised its stake in Sealed Air Corp. by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 797,424 shares of the company’s stock valued at $36,654,000 after buying an additional 17,497 shares during the period. Impax Asset Management LTD raised its stake in Sealed Air Corp. by 36.2% in the second quarter. Impax Asset Management LTD now owns 497,607 shares of the company’s stock valued at $22,875,000 after buying an additional 132,340 shares during the period. Finally, Eaton Vance Management raised its stake in Sealed Air Corp. by 21.6% in the second quarter. Eaton Vance Management now owns 112,433 shares of the company’s stock valued at $5,169,000 after buying an additional 20,000 shares during the period. 89.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sealed Air Corp. (NYSE:SEE) opened at 44.35 on Friday. The firm’s 50-day moving average price is $46.41 and its 200 day moving average price is $47.36. Sealed Air Corp. has a 1-year low of $38.02 and a 1-year high of $52.83. The firm has a market cap of $8.72 billion, a PE ratio of 25.29 and a beta of 1.22.
Sealed Air Corp. (NYSE:SEE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, equities research analysts forecast that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio is currently 36.57%.
SEE has been the topic of several analyst reports. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $59.00 target price on shares of Sealed Air Corp. in a report on Thursday, September 8th. Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $54.00 to $56.00 in a report on Friday, July 15th. Robert W. Baird reaffirmed an “outperform” rating on shares of Sealed Air Corp. in a report on Sunday, September 25th. Zacks Investment Research lowered Sealed Air Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Finally, JPMorgan Chase & Co. initiated coverage on Sealed Air Corp. in a report on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.42.
About Sealed Air Corp.