Trade Report: Today, Arizona State Retirement System Boosts Position in Sealed Air Corp. (SEE)

Today, Arizona State Retirement System Boosts Position in Sealed Air Corp. (SEE)

Arizona State Retirement System increased its stake in Sealed Air Corp. (NYSE:SEE) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 48,454 shares of the company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Sealed Air Corp. were worth $2,220,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SEE. Checchi Capital Advisers LLC raised its stake in shares of Sealed Air Corp. by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,335 shares of the company’s stock valued at $107,000 after buying an additional 21 shares in the last quarter. Seven Eight Capital LLC raised its stake in shares of Sealed Air Corp. by 8.9% in the second quarter. Seven Eight Capital LLC now owns 2,443 shares of the company’s stock valued at $112,000 after buying an additional 200 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of 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 valued at $125,000 after buying an additional 1,534 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of 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 valued at $148,000 after buying an additional 3,193 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of Sealed Air Corp. by 38.8% in the third quarter. NEXT Financial Group Inc now owns 3,400 shares of the company’s stock valued at $156,000 after buying an additional 950 shares in the last quarter. 89.72% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sealed Air Corp. (NYSE:SEE) traded down 1.54% during trading on Monday, reaching $46.73. 980,337 shares of the company traded hands. The company has a market capitalization of $9.03 billion, a P/E ratio of 21.13 and a beta of 1.35. Sealed Air Corp. has a 52 week low of $38.02 and a 52 week high of $52.83. The company’s 50-day moving average price is $45.50 and its 200-day moving average price is $46.47.

Sealed Air Corp. (NYSE:SEE) last posted its earnings results on Thursday, October 27th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.02. The business had revenue of $1.70 billion for 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 business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Equities research analysts forecast that Sealed Air Corp. will post $2.60 EPS for the current fiscal 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 paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio is currently 29.63%.

Several analysts have commented on SEE shares. Zacks Investment Research raised shares of Sealed Air Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, October 31st. Citigroup Inc. reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sealed Air Corp. in a research report on Monday, October 17th. JPMorgan Chase & Co. began coverage on shares of Sealed Air Corp. in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price objective on the stock. Robert W. Baird reiterated an “outperform” rating on shares of Sealed Air Corp. in a research note on Sunday, September 25th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $59.00 target price on shares of Sealed Air Corp. in a research note on Thursday, September 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $53.50.

About Sealed Air Corp.

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.

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