Huntington National Bank Increases Position in Sealed Air Corp. (SEE)
Huntington National Bank boosted its position in Sealed Air Corp. (NYSE:SEE) by 795.0% during the second quarter, Holdings Channel reports. The fund owned 29,624 shares of the company’s stock after buying an additional 26,314 shares during the period. Huntington National Bank’s holdings in Sealed Air Corp. were worth $1,362,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of Sealed Air Corp. during the second quarter worth about $68,189,000. Anchor Bolt Capital LP boosted its position in shares of Sealed Air Corp. by 109.5% in the first quarter. Anchor Bolt Capital LP now owns 1,466,166 shares of the company’s stock worth $70,391,000 after buying an additional 766,446 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Sealed Air Corp. by 29.6% in the first quarter. Renaissance Technologies LLC now owns 1,333,100 shares of the company’s stock worth $64,002,000 after buying an additional 304,400 shares during the last quarter. Hancock Holding Co. boosted its position in shares of Sealed Air Corp. by 430.6% in the first quarter. Hancock Holding Co. now owns 313,629 shares of the company’s stock worth $15,058,000 after buying an additional 254,521 shares during the last quarter. Finally, Natixis purchased a new position in shares of Sealed Air Corp. during the first quarter worth about $8,153,000. 89.08% of the stock is owned by institutional investors and hedge funds.
Shares of Sealed Air Corp. (NYSE:SEE) traded up 0.22% on Monday, reaching $44.72. The company’s stock had a trading volume of 614,400 shares. Sealed Air Corp. has a 12-month low of $38.02 and a 12-month high of $52.83. The company has a market cap of $8.80 billion, a P/E ratio of 25.50 and a beta of 1.22. The company’s 50 day moving average price is $45.97 and its 200 day moving average price is $47.21.
Sealed Air Corp. (NYSE:SEE) last released its earnings results on Thursday, July 28th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.60 EPS. Sealed Air Corp.’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast that Sealed Air Corp. will post $2.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, November 30th. Sealed Air Corp.’s dividend payout ratio (DPR) is presently 36.57%.
Several brokerages have recently weighed in on SEE. Credit Suisse Group AG reissued an “outperform” rating and issued a $59.00 price target on shares of Sealed Air Corp. in a research note on Thursday, September 8th. Citigroup Inc. raised Sealed Air Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $56.00 in a research note on Friday, July 15th. Robert W. Baird reissued an “outperform” rating on shares of Sealed Air Corp. in a research note on Sunday, September 25th. Zacks Investment Research cut Sealed Air Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. began coverage on Sealed Air Corp. in a research note on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $53.33.
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.
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