The Kentucky Retirement Systems Insurance Trust Fund Buys 7,960 Shares of Sealed Air Corp. (SEE)

The Kentucky Retirement Systems Insurance Trust Fund Buys 7,960  Shares of Sealed Air Corp. (SEE)

Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Sealed Air Corp. (NYSE:SEE) during the second quarter, Holdings Channel reports. The fund acquired 7,960 shares of the company’s stock, valued at approximately $366,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its position 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 during the period. Seven Eight Capital LLC boosted 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 valued at $112,000 after buying an additional 200 shares during the period. Mizuho Asset Management Co. Ltd. boosted 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 valued at $125,000 after buying an additional 1,534 shares during the period. Johnson Financial Group Inc. boosted 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 valued at $148,000 after buying an additional 3,193 shares during the period. Finally, Creative Planning boosted 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 valued at $168,000 after buying an additional 275 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Sealed Air Corp. (NYSE:SEE) traded up 0.06% on Friday, hitting $47.46. 582,456 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $45.43 and a 200-day moving average price of $46.48. The stock has a market cap of $9.17 billion, a P/E ratio of 21.46 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.

Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, October 27th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Sealed Air Corp. had a net margin of 6.31% and a return on equity of 92.87%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts predict that Sealed Air Corp. will post $2.60 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 30th. Sealed Air Corp.’s payout ratio is 29.63%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Citigroup Inc. reiterated a “buy” rating and set a $55.00 price objective on shares of Sealed Air Corp. in a research report on Monday, October 17th. Robert W. Baird reiterated an “outperform” rating on shares of Sealed Air Corp. in a research report on Sunday, September 25th. JPMorgan Chase & Co. assumed coverage on shares of Sealed Air Corp. in a research report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 price objective for the company. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $59.00 price objective on shares of Sealed Air Corp. in a research report on Thursday, September 8th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Sealed Air Corp. presently has a consensus rating of “Buy” and an average price target of $53.50.

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.

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