Tocqueville Asset Management L.P. grew its holdings in shares of Sealed Air Corp (NYSE:SEE) by 23.9% during the 4th quarter, HoldingsChannel reports. The fund owned 26,856 shares of the industrial products company’s stock after acquiring an additional 5,180 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Sealed Air were worth $1,324,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Nationwide Fund Advisors increased its stake in shares of Sealed Air by 63.3% in the third quarter. Nationwide Fund Advisors now owns 281,829 shares of the industrial products company’s stock worth $12,040,000 after buying an additional 109,196 shares during the period. First Trust Advisors LP purchased a new position in shares of Sealed Air in the third quarter worth $304,000. Crossmark Global Holdings Inc. purchased a new position in shares of Sealed Air in the third quarter worth $676,000. State of Wisconsin Investment Board increased its stake in shares of Sealed Air by 11.2% in the third quarter. State of Wisconsin Investment Board now owns 194,203 shares of the industrial products company’s stock worth $8,296,000 after buying an additional 19,533 shares during the period. Finally, Swiss National Bank increased its stake in shares of Sealed Air by 2.4% in the third quarter. Swiss National Bank now owns 721,923 shares of the industrial products company’s stock worth $30,841,000 after buying an additional 17,100 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on SEE shares. Zacks Investment Research downgraded shares of Sealed Air from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Barclays raised shares of Sealed Air from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $53.00 in a research note on Friday, December 15th. SunTrust Banks reaffirmed a “buy” rating and issued a $49.00 target price on shares of Sealed Air in a research note on Friday, November 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $50.00 target price on shares of Sealed Air in a research note on Thursday, January 25th. Finally, Citigroup reduced their price objective on shares of Sealed Air from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $50.31.
Shares of Sealed Air Corp (NYSE SEE) opened at $44.65 on Monday. Sealed Air Corp has a fifty-two week low of $40.76 and a fifty-two week high of $49.94. The company has a market cap of $7,473.29, a price-to-earnings ratio of 10.66, a PEG ratio of 1.69 and a beta of 1.19. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 21.21.
Sealed Air (NYSE:SEE) last announced its earnings results on Thursday, February 8th. The industrial products company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Sealed Air had a net margin of 17.90% and a return on equity of 74.28%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts forecast that Sealed Air Corp will post 2.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, March 1st. Sealed Air’s dividend payout ratio (DPR) is presently 15.27%.
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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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