Gamco Investors INC. ET AL decreased its holdings in Sealed Air Corp (NYSE:SEE) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,335 shares of the industrial products company’s stock after selling 2,500 shares during the period. Gamco Investors INC. ET AL’s holdings in Sealed Air were worth $2,588,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Invesco Ltd. grew its stake in shares of Sealed Air by 40.4% during the second quarter. Invesco Ltd. now owns 4,203,199 shares of the industrial products company’s stock worth $179,813,000 after purchasing an additional 1,210,417 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Sealed Air by 173.0% during the second quarter. APG Asset Management N.V. now owns 829,152 shares of the industrial products company’s stock worth $31,148,000 after purchasing an additional 525,381 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Sealed Air during the second quarter worth $18,059,000. Vanguard Group Inc. grew its stake in shares of Sealed Air by 2.1% during the second quarter. Vanguard Group Inc. now owns 18,711,432 shares of the industrial products company’s stock worth $800,475,000 after purchasing an additional 393,721 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Sealed Air by 3.1% during the second quarter. BlackRock Inc. now owns 10,812,637 shares of the industrial products company’s stock worth $462,564,000 after purchasing an additional 323,415 shares in the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.
In other Sealed Air news, CFO James M. Sullivan bought 5,000 shares of Sealed Air stock in a transaction dated Thursday, November 7th. The stock was acquired at an average cost of $38.75 per share, with a total value of $193,750.00. Following the completion of the acquisition, the chief financial officer now owns 17,028 shares of the company’s stock, valued at $659,835. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.
NYSE SEE traded up $1.20 during trading hours on Friday, hitting $40.02. The company had a trading volume of 1,644,419 shares, compared to its average volume of 1,363,901. Sealed Air Corp has a 1-year low of $32.33 and a 1-year high of $47.13. The company has a market cap of $6.46 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.07. The business has a 50 day moving average of $41.04 and a 200-day moving average of $42.47.
Sealed Air (NYSE:SEE) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. Sealed Air had a net margin of 7.84% and a negative return on equity of 121.14%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Sealed Air’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that Sealed Air Corp will post 2.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.60%. Sealed Air’s payout ratio is 25.60%.
A number of equities analysts recently commented on SEE shares. ValuEngine downgraded shares of Sealed Air from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Wells Fargo & Co decreased their price objective on shares of Sealed Air from $43.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup decreased their price objective on shares of Sealed Air from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, KeyCorp upgraded shares of Sealed Air from an “underweight” rating to a “sector weight” rating in a research note on Wednesday. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $42.96.
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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