Aviance Capital Management LLC raised its stake in shares of Sealed Air Corp. (NYSE:SEE) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,527 shares of the company’s stock after buying an additional 1,576 shares during the period. Aviance Capital Management LLC’s holdings in Sealed Air Corp. were worth $760,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in SEE. Checchi Capital Advisers LLC raised its position 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 valued at $107,000 after buying an additional 21 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Sealed Air Corp. during the first quarter valued at about $132,000. Creative Planning raised its position 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 in the last quarter. Conning Inc. raised its position in Sealed Air Corp. by 2.0% in the second quarter. Conning Inc. now owns 4,644 shares of the company’s stock valued at $213,000 after buying an additional 90 shares in the last quarter. Finally, ING Groep NV acquired a new position in Sealed Air Corp. during the first quarter valued at about $217,000. 89.21% of the stock is owned by institutional investors.
Shares of Sealed Air Corp. (NYSE:SEE) traded up 0.19% during midday trading on Monday, hitting $46.67. The company had a trading volume of 1,398,370 shares. Sealed Air Corp. has a 1-year low of $38.02 and a 1-year high of $52.83. The firm has a market capitalization of $9.18 billion, a P/E ratio of 26.61 and a beta of 1.23. The stock has a 50 day moving average price of $46.74 and a 200 day moving average price of $47.42.
Sealed Air Corp. (NYSE:SEE) last announced its quarterly earnings data 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. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 1.37%. Sealed Air Corp.’s payout ratio is currently 36.57%.
SEE has been the subject of several recent analyst reports. Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $56.00 in a report on Friday, July 15th. Zacks Investment Research raised Sealed Air Corp. from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $59.00 price objective on shares of Sealed Air Corp. in a report on Wednesday, June 1st. SunTrust Banks Inc. started coverage on 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, BMO Capital Markets reissued a “hold” rating and set a $50.00 price objective on shares of Sealed Air Corp. in a report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus 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.
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