ING Groep NV increased its position in shares of Sealed Air Corp. (NYSE:SEE) by 55.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,003 shares of the company’s stock after buying an additional 2,492 shares during the period. ING Groep NV’s holdings in Sealed Air Corp. were worth $322,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently 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 worth $107,000 after buying an additional 21 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Sealed Air Corp. during the first quarter worth about $132,000. Creative Planning raised its position in shares of Sealed Air Corp. by 8.2% in the second quarter. Creative Planning now owns 3,648 shares of the company’s stock worth $168,000 after buying an additional 275 shares during the period. Conning Inc. raised its position in shares of Sealed Air Corp. by 2.0% in the second quarter. Conning Inc. now owns 4,644 shares of the company’s stock worth $213,000 after buying an additional 90 shares during the period. Finally, First Manhattan Co. raised its position in shares of Sealed Air Corp. by 1.8% in the second quarter. First Manhattan Co. now owns 5,101 shares of the company’s stock worth $234,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.
Sealed Air Corp. (NYSE:SEE) traded down 0.11% on Wednesday, reaching $44.54. The company had a trading volume of 587,844 shares. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 25.39 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 firm has a 50 day moving average price of $46.30 and a 200-day moving average price of $47.31.
Sealed Air Corp. (NYSE:SEE) last released its quarterly 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 business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. Sealed Air Corp.’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Analysts forecast that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.44%. Sealed Air Corp.’s dividend payout ratio (DPR) is presently 36.57%.
A number of research analysts have issued reports on the company. BMO Capital Markets reiterated a “hold” rating on shares of Sealed Air Corp. in a research report on Sunday, July 17th. Zacks Investment Research upgraded Sealed Air Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 15th. Jefferies Group reduced their price target on Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, July 29th. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $54.00 to $56.00 in a research report on Friday, July 15th. Finally, SunTrust Banks Inc. assumed coverage on Sealed Air Corp. in a research report on Tuesday, July 12th. They set a “buy” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus 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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