SG Americas Securities LLC lessened its stake in Sealed Air Corp (NYSE:SEE) by 79.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,255 shares of the industrial products company’s stock after selling 195,429 shares during the period. SG Americas Securities LLC’s holdings in Sealed Air were worth $2,150,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of SEE. Thor Advisors LLC bought a new stake in shares of Sealed Air in the first quarter worth $78,000. Rockefeller Capital Management L.P. bought a new stake in shares of Sealed Air in the first quarter worth $88,000. NumerixS Investment Technologies Inc bought a new stake in shares of Sealed Air in the first quarter worth $90,000. Quantamental Technologies LLC acquired a new position in Sealed Air in the first quarter worth $96,000. Finally, Private Capital Group LLC boosted its holdings in Sealed Air by 222.7% in the first quarter. Private Capital Group LLC now owns 2,178 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 1,503 shares during the period. Institutional investors and hedge funds own 98.53% of the company’s stock.
A number of research firms have commented on SEE. Wells Fargo & Co lifted their price objective on shares of Sealed Air from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, August 6th. KeyCorp reaffirmed a “sell” rating and issued a $39.00 price objective on shares of Sealed Air in a report on Friday, August 2nd. Finally, Bank of America downgraded shares of Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective for the company. in a report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.69.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Sealed Air had a net margin of 7.84% and a negative return on equity of 121.14%. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, research analysts predict that Sealed Air Corp will post 2.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, September 5th. Sealed Air’s dividend payout ratio (DPR) is 25.60%.
About Sealed Air
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. It operates in two segments, Food Care and Product Care. The Food Care segment offers integrated packaging materials and equipment solutions to provide food safety, shelf life extension, and total cost optimization for perishable food processors in the fresh red meat, smoked and processed meats, poultry, and dairy markets under the Cryovac, Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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