Shell Asset Management Co. raised its position in Sealed Air Corp. (NYSE:SEE) by 31.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,919 shares of the company’s stock after buying an additional 3,349 shares during the period. Shell Asset Management Co.’s holdings in Sealed Air Corp. were worth $640,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of SEE. Checchi Capital Advisers LLC raised 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 during the last quarter. Capstone Asset Management Co. raised its stake in Sealed Air Corp. by 0.4% in the second quarter. Capstone Asset Management Co. now owns 17,234 shares of the company’s stock worth $792,000 after buying an additional 67 shares during the last quarter. IBM Retirement Fund raised its stake in Sealed Air Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 23,279 shares of the company’s stock worth $1,117,000 after buying an additional 76 shares during the last quarter. First Manhattan Co. raised its stake in Sealed Air Corp. by 1.8% in the second quarter. First Manhattan Co. now owns 5,101 shares of the company’s stock worth $234,000 after buying an additional 90 shares during the last quarter. Finally, Creative Planning raised its stake in Sealed Air Corp. by 8.2% in the second quarter. Creative Planning now owns 3,648 shares of the company’s stock worth $168,000 after buying an additional 275 shares during the last quarter. 89.21% of the stock is owned by institutional investors and hedge funds.
Sealed Air Corp. (NYSE:SEE) traded down 1.92% during trading on Friday, reaching $44.35. The company had a trading volume of 2,199,813 shares. The firm has a market capitalization of $8.72 billion, a P/E ratio of 25.29 and a beta of 1.22. The stock has a 50 day moving average price of $46.41 and a 200 day moving average price of $47.36. Sealed Air Corp. has a 52 week low of $38.02 and a 52 week high of $52.83.
Sealed Air Corp. (NYSE:SEE) last posted its 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 company earned $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. Sealed Air Corp.’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Analysts predict that Sealed Air Corp. will post $2.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.44%. Sealed Air Corp.’s dividend payout ratio is currently 36.57%.
A number of research firms have commented on SEE. BMO Capital Markets reissued a “hold” rating on shares of Sealed Air Corp. in a report on Sunday, July 17th. Zacks Investment Research raised Sealed Air Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 15th. Jefferies Group reduced their target price on Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a report on Friday, July 29th. Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $54.00 to $56.00 in a report on Friday, July 15th. Finally, SunTrust Banks Inc. began coverage on Sealed Air Corp. in a report on Tuesday, July 12th. They issued a “buy” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $53.42.
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.