Alps Advisors Inc. reduced its stake in Sealed Air Corp. (NYSE:SEE) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 8,562 shares of the company’s stock after selling 632 shares during the period. Alps Advisors Inc.’s holdings in Sealed Air Corp. were worth $394,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Anchor Bolt Capital LP raised its stake in shares of Sealed Air Corp. by 109.5% in the first quarter. Anchor Bolt Capital LP now owns 1,466,166 shares of the company’s stock valued at $70,391,000 after buying an additional 766,446 shares in the last quarter. Renaissance Technologies LLC raised its stake in Sealed Air Corp. by 29.6% in the first quarter. Renaissance Technologies LLC now owns 1,333,100 shares of the company’s stock worth $64,002,000 after buying an additional 304,400 shares during the period. IBM Retirement Fund raised its stake in Sealed Air Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 23,279 shares of the company’s stock worth $1,117,000 after buying an additional 76 shares during the period. National Pension Service raised its stake in Sealed Air Corp. by 4.5% in the first quarter. National Pension Service now owns 144,614 shares of the company’s stock worth $6,943,000 after buying an additional 6,266 shares during the period. Finally, DNB Asset Management AS bought a new stake in Sealed Air Corp. during the second quarter worth $486,000. 89.21% of the stock is owned by institutional investors and hedge funds.
Sealed Air Corp. (NYSE:SEE) traded up 1.01% during trading on Monday, reaching $44.80. The company’s stock had a trading volume of 1,478,485 shares. The firm’s 50-day moving average price is $46.41 and its 200 day moving average price is $47.36. Sealed Air Corp. has a 12-month low of $38.02 and a 12-month high of $52.83. The company has a market capitalization of $8.81 billion, a P/E ratio of 25.54 and a beta of 1.22.
Sealed Air Corp. (NYSE:SEE) last announced its earnings results on Thursday, July 28th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The firm earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, analysts predict that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio (DPR) is 36.57%.
SEE has been the subject of a number of analyst reports. Zacks Investment Research lowered Sealed Air Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. JPMorgan Chase & Co. initiated coverage on Sealed Air Corp. in a research note on Tuesday, September 13th. They set a “neutral” rating and a $53.00 price objective for the company. Credit Suisse Group AG reissued an “outperform” rating and set a $59.00 price objective on shares of Sealed Air Corp. in a research note on Thursday, September 8th. Robert W. Baird reissued an “outperform” rating on shares of Sealed Air Corp. in a research note on Sunday, September 25th. Finally, SunTrust Banks Inc. initiated coverage on Sealed Air Corp. in a research note on Tuesday, July 12th. They set a “buy” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Sealed Air Corp. currently has an average rating of “Buy” and an average price target 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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