Comerica Bank Decreases Holdings in Sealed Air Corp (NYSE:SEE)

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Comerica Bank trimmed its holdings in shares of Sealed Air Corp (NYSE:SEE) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,899 shares of the industrial products company’s stock after selling 443 shares during the period. Comerica Bank’s holdings in Sealed Air were worth $1,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its holdings in Sealed Air by 3.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,135 shares of the industrial products company’s stock worth $733,000 after buying an additional 518 shares during the last quarter. Bbva USA Bancshares Inc. lifted its holdings in Sealed Air by 10.7% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,839 shares of the industrial products company’s stock worth $805,000 after buying an additional 1,824 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Sealed Air by 141.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,160 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 23,497 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Sealed Air during the third quarter worth about $1,919,000. Finally, CWM Advisors LLC increased its position in shares of Sealed Air by 19.8% during the second quarter. CWM Advisors LLC now owns 11,986 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 1,982 shares in the last quarter. 95.82% of the stock is owned by institutional investors.

SEE has been the topic of a number of research analyst reports. KeyCorp upgraded Sealed Air from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th. They noted that the move was a valuation call. ValuEngine cut Sealed Air from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Citigroup cut their target price on Sealed Air from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Co cut their target price on Sealed Air from $43.00 to $40.00 and set a “market perform” rating on the stock in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $42.96.

In related news, CFO James M. Sullivan purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average price of $38.75 per share, for a total transaction of $193,750.00. Following the transaction, the chief financial officer now directly owns 17,028 shares of the company’s stock, valued at approximately $659,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

SEE opened at $38.28 on Friday. The business’s 50-day simple moving average is $40.81 and its 200-day simple moving average is $42.29. Sealed Air Corp has a one year low of $32.33 and a one year high of $47.13. The stock has a market capitalization of $5.90 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.43 and a beta of 1.07.

Sealed Air (NYSE:SEE) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Sealed Air had a negative return on equity of 135.60% and a net margin of 7.55%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, equities research analysts forecast that Sealed Air Corp will post 2.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 5th. Sealed Air’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for Sealed Air (NYSE:SEE)

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