Retirement Systems of Alabama boosted its stake in Sealed Air Corp. (NYSE:SEE) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 100,503 shares of the company’s stock after buying an additional 1,254 shares during the period. Retirement Systems of Alabama’s holdings in Sealed Air Corp. were worth $4,620,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SEE. Checchi Capital Advisers LLC boosted its stake in shares of 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. bought 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 during 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 during the last quarter. Finally, ING Groep NV bought a new position in Sealed Air Corp. during the first quarter valued at about $217,000. 89.21% of the stock is owned by hedge funds and other institutional investors.
Sealed Air Corp. (NYSE:SEE) traded up 0.70% during midday trading on Friday, reaching $44.62. The company’s stock had a trading volume of 582,125 shares. Sealed Air Corp. has a 52-week low of $38.02 and a 52-week high of $52.83. The firm has a 50 day moving average of $46.03 and a 200 day moving average of $47.24. The firm has a market cap of $8.78 billion, a P/E ratio of 25.44 and a beta of 1.22.
Sealed Air Corp. (NYSE:SEE) last posted its earnings results on Thursday, July 28th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. The firm earned $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Analysts anticipate that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a $0.16 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.43%. Sealed Air Corp.’s dividend payout ratio is presently 36.57%.
Several equities analysts have recently issued reports on SEE shares. Zacks Investment Research lowered Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. BMO Capital Markets restated a “hold” rating and set a $50.00 target price on shares of Sealed Air Corp. in a research report on Friday, July 29th. Jefferies Group decreased their target price 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. JPMorgan Chase & Co. started coverage on Sealed Air Corp. in a research report on Tuesday, September 13th. They set a “neutral” rating and a $53.00 target price for the company. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $59.00 target price on shares of Sealed Air Corp. in a research report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock 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.
Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Corp. (NYSE:SEE).
Receive News & Ratings for Sealed Air Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corp. and related companies with MarketBeat.com's FREE daily email newsletter.