Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of Sealed Air Corporation (NYSE:SEE) by 11.5% during the second quarter, Holdings Channel reports. The fund owned 14,756 shares of the industrial products company’s stock after selling 1,917 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Sealed Air Corporation were worth $660,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new position in Sealed Air Corporation during the fourth quarter worth approximately $431,000. Chevy Chase Trust Holdings Inc. boosted its position in Sealed Air Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 168,060 shares of the industrial products company’s stock worth $7,324,000 after buying an additional 5,123 shares during the last quarter. CENTRAL TRUST Co boosted its position in Sealed Air Corporation by 0.8% in the first quarter. CENTRAL TRUST Co now owns 3,830 shares of the industrial products company’s stock worth $167,000 after buying an additional 30 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Sealed Air Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 63,698 shares of the industrial products company’s stock worth $2,775,000 after buying an additional 900 shares during the last quarter. Finally, Merriman Wealth Management LLC boosted its position in Sealed Air Corporation by 54.5% in the first quarter. Merriman Wealth Management LLC now owns 42,780 shares of the industrial products company’s stock worth $1,864,000 after buying an additional 15,088 shares during the last quarter. 91.94% of the stock is currently owned by institutional investors.

Shares of Sealed Air Corporation (SEE) opened at 45.00 on Wednesday. The company’s 50 day moving average is $45.02 and its 200-day moving average is $45.33. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 25.86 and a beta of 1.16. Sealed Air Corporation has a 1-year low of $41.74 and a 1-year high of $50.62.

Sealed Air Corporation (NYSE:SEE) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities analysts anticipate that Sealed Air Corporation will post $1.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.42%. The ex-dividend date is Wednesday, August 30th. Sealed Air Corporation’s dividend payout ratio (DPR) is presently 36.99%.

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A number of research analysts have commented on SEE shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $52.00 target price on shares of Sealed Air Corporation in a research report on Tuesday, April 11th. Zacks Investment Research raised shares of Sealed Air Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Jefferies Group LLC reissued a “hold” rating and set a $45.00 price target on shares of Sealed Air Corporation in a research report on Tuesday, April 18th. Bank of America Corporation cut shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Tuesday, May 9th. Finally, Credit Suisse Group set a $50.00 price target on shares of Sealed Air Corporation and gave the stock a “buy” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Sealed Air Corporation has an average rating of “Hold” and an average price target of $48.91.

In related news, CAO William G. Stiehl sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $43.43, for a total transaction of $130,290.00. Following the transaction, the chief accounting officer now directly owns 37,797 shares of the company’s stock, valued at approximately $1,641,523.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jerome A. Peribere purchased 6,960 shares of Sealed Air Corporation stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average cost of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the transaction, the insider now directly owns 199,000 shares in the company, valued at approximately $8,551,030. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.

About Sealed Air Corporation

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 a range of integrated system solutions.

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Institutional Ownership by Quarter for Sealed Air Corporation (NYSE:SEE)

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