Bbva Compass Bancshares Inc. decreased its stake in Sealed Air Corp. (NYSE:SEE) by 17.1% during the second quarter, Holdings Channel reports. The fund owned 28,868 shares of the company’s stock after selling 5,954 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Sealed Air Corp. were worth $1,327,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC increased 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 valued at $107,000 after buying an additional 21 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Sealed Air Corp. during the first quarter valued at approximately $132,000. Creative Planning increased 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 valued at $168,000 after buying an additional 275 shares in the last quarter. Conning Inc. increased 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 valued at $213,000 after buying an additional 90 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Sealed Air Corp. during the first quarter valued at approximately $217,000. Institutional investors own 89.08% of the company’s stock.
Shares of Sealed Air Corp. (NYSE:SEE) traded down 0.31% during trading on Tuesday, hitting $44.58. The company had a trading volume of 2,122,054 shares. The stock has a market capitalization of $8.77 billion, a P/E ratio of 25.42 and a beta of 1.22. Sealed Air Corp. has a 52 week low of $38.02 and a 52 week high of $52.83. The firm’s 50 day moving average is $45.97 and its 200-day moving average is $47.21.
Sealed Air Corp. (NYSE:SEE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The business earned $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Sealed Air Corp.’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio is presently 36.57%.
Several research analysts have commented on SEE shares. Zacks Investment Research upgraded Sealed Air Corp. from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, June 29th. SunTrust Banks Inc. started coverage on Sealed Air Corp. in a research note on Tuesday, July 12th. They issued a “buy” rating and a $54.00 target price for the company. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $54.00 to $56.00 in a research note on Friday, July 15th. BMO Capital Markets restated a “hold” rating and issued a $50.00 target price on shares of Sealed Air Corp. in a research note on Friday, July 29th. Finally, Jefferies Group cut their target price on Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.33.
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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