Vanguard Group Inc. raised its position in Sealed Air Corp (NYSE:SEE) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,711,432 shares of the industrial products company’s stock after acquiring an additional 393,721 shares during the quarter. Vanguard Group Inc. owned approximately 12.11% of Sealed Air worth $800,475,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in Sealed Air by 3.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 17,135 shares of the industrial products company’s stock valued at $733,000 after acquiring an additional 518 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Sealed Air in the 1st quarter valued at about $88,000. Pictet Asset Management Ltd. grew its position in Sealed Air by 16.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 279,809 shares of the industrial products company’s stock valued at $12,888,000 after acquiring an additional 40,188 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Sealed Air by 36.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 39,005 shares of the industrial products company’s stock valued at $1,796,000 after acquiring an additional 10,396 shares in the last quarter. Finally, Bbva USA Bancshares Inc. grew its position in Sealed Air by 10.7% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 18,839 shares of the industrial products company’s stock valued at $805,000 after acquiring an additional 1,824 shares in the last quarter. 96.58% of the stock is owned by institutional investors.
SEE has been the subject of several research reports. KeyCorp reaffirmed a “sell” rating and issued a $39.00 target price on shares of Sealed Air in a research report on Friday, August 2nd. Wells Fargo & Co lifted their price objective on Sealed Air from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, August 6th. ValuEngine cut Sealed Air from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Finally, Bank of America cut Sealed Air from a “buy” rating to a “neutral” rating and set a $41.63 price objective for the company. in a research note on Friday, June 21st. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Sealed Air presently has a consensus rating of “Hold” and an average target price of $42.69.
Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.16. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Sealed Air had a negative return on equity of 121.14% and a net margin of 7.84%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. On average, analysts anticipate that Sealed Air Corp will post 2.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, September 5th. Sealed Air’s payout ratio is 25.60%.
Sealed Air Company Profile
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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