Quantitative Investment Management LLC bought a new position in Sealed Air Corp (NYSE:SEE) in the 4th quarter, HoldingsChannel.com reports. The fund bought 217,900 shares of the industrial products company’s stock, valued at approximately $10,742,000.
Several other institutional investors have also modified their holdings of SEE. Massey Quick Simon & CO. LLC acquired a new stake in Sealed Air during the third quarter valued at $140,000. SeaCrest Wealth Management LLC acquired a new stake in Sealed Air during the fourth quarter valued at $171,000. Beck Mack & Oliver LLC acquired a new stake in Sealed Air during the fourth quarter valued at $207,000. King Luther Capital Management Corp acquired a new stake in Sealed Air during the fourth quarter valued at $211,000. Finally, MHI Funds LLC acquired a new stake in Sealed Air during the fourth quarter valued at $216,000. 97.24% of the stock is owned by institutional investors and hedge funds.
Sealed Air Corp (NYSE:SEE) opened at $44.65 on Friday. The company has a debt-to-equity ratio of 21.21, a current ratio of 1.35 and a quick ratio of 0.99. The company has a market capitalization of $7,473.29, a PE ratio of 10.66, a PEG ratio of 1.69 and a beta of 1.19. Sealed Air Corp has a 12 month low of $40.76 and a 12 month high of $49.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. Sealed Air’s payout ratio is presently 15.27%.
SEE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Sealed Air from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Zacks Investment Research raised Sealed Air from a “sell” rating to a “hold” rating in a research report on Monday, February 26th. Bank of America set a $59.00 price target on Sealed Air and gave the stock a “buy” rating in a research report on Friday, February 9th. Vertical Research raised Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Finally, TheStreet cut Sealed Air from a “b” rating to a “c” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Sealed Air has a consensus rating of “Hold” and an average price target of $50.31.
In other news, CFO William G. Stiehl sold 3,000 shares of Sealed Air stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $48.98, for a total value of $146,940.00. Following the transaction, the chief financial officer now directly owns 34,797 shares in the company, valued at $1,704,357.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company’s stock.
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About Sealed Air
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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