Artemis Investment Management LLP boosted its stake in shares of Sealed Air Corp. (NYSE:SEE) by 90.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 137,917 shares of the company’s stock after buying an additional 65,608 shares during the period. Artemis Investment Management LLP’s holdings in Sealed Air Corp. were worth $6,342,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased 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 valued at $107,000 after buying an additional 21 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Sealed Air Corp. during the first quarter valued at $132,000. Creative Planning increased 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 last quarter. Conning Inc. increased its stake 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 during the last quarter. Finally, ING Groep NV purchased a new stake in Sealed Air Corp. during the first quarter valued at $217,000. Institutional investors and hedge funds own 89.21% of the company’s stock.
Shares of Sealed Air Corp. (NYSE:SEE) traded up 0.54% during trading on Wednesday, hitting $46.52. The company’s stock had a trading volume of 1,222,285 shares. The company has a 50-day moving average price of $46.73 and a 200-day moving average price of $47.44. The stock has a market cap of $9.15 billion, a PE ratio of 26.52 and a beta of 1.23. Sealed Air Corp. has a one year low of $38.02 and a one year high of $52.83.
Sealed Air Corp. (NYSE:SEE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 the consensus estimate of $1.74 billion. During the same period last year, the firm earned $0.60 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.38%. Sealed Air Corp.’s payout ratio is 36.57%.
Several analysts have weighed in on SEE shares. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the company from $54.00 to $56.00 in a research note 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 issued a $59.00 price objective on shares of Sealed Air Corp. in a report on Wednesday, June 1st. SunTrust Banks Inc. initiated coverage on Sealed Air Corp. in a report on Tuesday, July 12th. They issued a “buy” rating and a $54.00 price objective for the company. Finally, BMO Capital Markets reissued a “hold” rating and issued a $50.00 price objective on shares of Sealed Air Corp. in a report on Friday, July 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Sealed Air Corp. has an average rating of “Buy” and a consensus target price 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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