Sealed Air Corp. (SEE) Stake Raised by Conning Inc.
Conning Inc. increased its position in Sealed Air Corp. (NYSE:SEE) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,644 shares of the company’s stock after buying an additional 90 shares during the period. Conning Inc.’s holdings in Sealed Air Corp. were worth $213,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baker Avenue Asset Management LP bought a new position in Sealed Air Corp. during the first quarter worth about $401,000. Quadrature Capital Ltd bought a new position in Sealed Air Corp. during the first quarter worth about $700,000. Meeder Asset Management Inc. bought a new position in Sealed Air Corp. during the first quarter worth about $132,000. ING Groep NV bought a new position in Sealed Air Corp. during the first quarter worth about $217,000. Finally, Investec Asset Management LTD bought a new position in Sealed Air Corp. during the first quarter worth about $235,000. 89.21% of the stock is owned by institutional investors and hedge funds.
Shares of Sealed Air Corp. (NYSE:SEE) traded down 1.92% during mid-day trading on Friday, hitting $44.35. 2,199,813 shares of the stock traded hands. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 25.29 and a beta of 1.22. The firm’s 50 day moving average price is $46.41 and its 200 day moving average price is $47.36. Sealed Air Corp. has a 12-month low of $38.02 and a 12-month high of $52.83.
Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The business earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be given a $0.16 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.44%. Sealed Air Corp.’s dividend payout ratio (DPR) is 36.57%.
A number of research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating on shares of Sealed Air Corp. in a report on Sunday, July 17th. Jefferies Group increased their price objective on shares of Sealed Air Corp. from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, July 14th. Zacks Investment Research upgraded shares of Sealed Air Corp. from a “sell” rating to a “hold” rating in a research note on Friday, July 15th. Citigroup Inc. upgraded shares of Sealed Air Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $56.00 in a research note on Friday, July 15th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $59.00 price objective on shares of Sealed Air Corp. in a research note on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Sealed Air Corp. has an average rating of “Buy” and an average target price of $53.42.
About Sealed Air Corp.
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company’s segments are Food Care, Diversey Care, Product Care and Other (includes Corporate, Medical Applications and New Ventures businesses). The Food Care segment focuses on providing processors, retailers and food service operators a range of integrated system solutions.
Want to see what other hedge funds are holding SEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sealed Air Corp. (NYSE:SEE).
Receive News & Ratings for Sealed Air Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corp. and related companies with MarketBeat.com's FREE daily email newsletter.