Virginia Retirement Systems ET AL purchased a new stake in shares of Sealed Air Corp. (NYSE:SEE) during the second quarter, Holdings Channel reports. The fund purchased 13,900 shares of the company’s stock, valued at approximately $639,000.
Other institutional investors have also recently bought and sold shares of the company. Westpac Banking Corp boosted its position in Sealed Air Corp. by 233.4% in the second quarter. Westpac Banking Corp now owns 70,863 shares of the company’s stock valued at $2,987,000 after buying an additional 49,606 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position 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 worth $125,000 after buying an additional 1,534 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Sealed Air Corp. by 3.4% in the second quarter. Principal Financial Group Inc. now owns 302,305 shares of the company’s stock worth $13,897,000 after buying an additional 9,842 shares during the last quarter. Brown Advisory Inc. bought a new position in shares of Sealed Air Corp. during the second quarter worth about $589,000. Finally, Prudential Financial Inc. boosted its position in shares of Sealed Air Corp. by 12.1% in the second quarter. Prudential Financial Inc. now owns 272,735 shares of the company’s stock worth $12,538,000 after buying an additional 29,342 shares during the last quarter. 89.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Sealed Air Corp. (NYSE:SEE) opened at 44.90 on Wednesday. The firm has a market capitalization of $8.83 billion, a PE ratio of 25.60 and a beta of 1.22. Sealed Air Corp. has a 12-month low of $38.02 and a 12-month high of $52.83. The company’s 50-day moving average price is $46.55 and its 200-day moving average price is $47.41.
Sealed Air Corp. (NYSE:SEE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Analysts anticipate that Sealed Air Corp. will post $2.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.43%. Sealed Air Corp.’s dividend payout ratio (DPR) is presently 36.57%.
A number of brokerages have recently issued reports 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 cut Sealed Air Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Jefferies Group dropped 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. 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. Finally, JPMorgan Chase & Co. began coverage on Sealed Air Corp. in a report on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $53.42.
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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