Sealed Air Corporation (SEE) Shares Sold by Stillwater Investment Management L.P.
Stillwater Investment Management L.P. trimmed its holdings in Sealed Air Corporation (NYSE:SEE) by 17.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 390,303 shares of the industrial products company’s stock after selling 82,740 shares during the period. Sealed Air Corporation accounts for approximately 4.6% of Stillwater Investment Management L.P.’s portfolio, making the stock its 7th largest position. Stillwater Investment Management L.P. owned about 0.20% of Sealed Air Corporation worth $17,470,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SEE. Fiduciary Trust Co. purchased a new stake in shares of Sealed Air Corporation in the second quarter valued at about $124,000. Global X Management Co. LLC raised its holdings in shares of 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. Pacer Advisors Inc. raised its holdings in shares of 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. Sphera Funds Management LTD. raised its holdings in shares of Sealed Air Corporation by 28.6% in the first quarter. Sphera Funds Management LTD. now owns 4,500 shares of the industrial products company’s stock valued at $196,000 after buying an additional 1,000 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new stake in shares of Sealed Air Corporation in the first quarter valued at about $196,000. 92.12% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Sealed Air Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $44.00 price target on shares of Sealed Air Corporation in a report on Tuesday, June 13th. BidaskClub cut shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BMO Capital Markets reissued a “hold” rating and set a $47.00 price target on shares of Sealed Air Corporation in a report on Thursday, July 20th. Finally, Barclays PLC reissued an “equal weight” rating and set a $45.00 price target on shares of Sealed Air Corporation in a report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Sealed Air Corporation currently has an average rating of “Hold” and an average target price of $48.33.
Sealed Air Corporation (NYSE:SEE) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Sealed Air Corporation had a net margin of 6.81% and a return on equity of 84.32%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.51%. Sealed Air Corporation’s dividend payout ratio (DPR) is 33.16%.
In other Sealed Air Corporation news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the sale, the director now directly owns 38,180 shares in the company, valued at approximately $1,638,303.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is currently owned by insiders.
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 (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions.
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