Municipal Employees Retirement System of Michigan Raises Position in Sealed Air Corporation (NYSE:SEE)
Municipal Employees Retirement System of Michigan raised its position in shares of Sealed Air Corporation (NYSE:SEE) by 270.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,280 shares of the industrial products company’s stock after buying an additional 17,000 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Sealed Air Corporation were worth $1,042,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of SEE. Assetmark Inc. raised its position in Sealed Air Corporation by 1.0% in the first quarter. Assetmark Inc. now owns 2,444 shares of the industrial products company’s stock valued at $107,000 after buying an additional 25 shares during the last quarter. TrimTabs Asset Management LLC purchased a new position in Sealed Air Corporation during the first quarter valued at about $109,000. Global X Management Co. LLC raised its position in Sealed Air Corporation by 30.4% in the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after buying an additional 687 shares during the last quarter. CENTRAL TRUST Co raised 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 valued at $167,000 after buying an additional 30 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Sealed Air Corporation by 3.0% in the first quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
Shares of Sealed Air Corporation (NYSE SEE) opened at 44.03 on Friday. The stock has a 50 day moving average of $44.94 and a 200 day moving average of $45.22. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 22.75 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 announced its earnings results on Tuesday, August 8th. The industrial products company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. Sealed Air Corporation’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts predict that Sealed Air Corporation will post $1.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.45%. Sealed Air Corporation’s dividend payout ratio is presently 33.16%.
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Several research analysts have issued reports on SEE shares. Zacks Investment Research lowered shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Bank of America Corporation lowered shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Tuesday, May 9th. TheStreet lowered shares of Sealed Air Corporation from a “b” rating to a “c+” rating in a report on Tuesday, May 9th. Credit Suisse Group set a $50.00 price target on shares of Sealed Air Corporation and gave the stock a “buy” rating in a report on Thursday, May 11th. Finally, Jefferies Group LLC lowered their price target on shares of Sealed Air Corporation from $45.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $48.91.
In other Sealed Air Corporation news, insider Emile Z. Chammas bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was bought at an average price of $43.09 per share, for a total transaction of $129,270.00. Following the completion of the acquisition, the insider now directly owns 148,077 shares in the company, valued at $6,380,637.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by corporate insiders.
Sealed Air Corporation Company Profile
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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