Sealed Air Corporation (SEE) Shares Sold by TCW Group Inc.
TCW Group Inc. reduced its position in shares of Sealed Air Corporation (NYSE:SEE) by 80.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 229,574 shares of the industrial products company’s stock after selling 924,119 shares during the period. TCW Group Inc. owned approximately 0.12% of Sealed Air Corporation worth $9,807,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. acquired a new position in Sealed Air Corporation during the second quarter worth about $124,000. Massey Quick Simon & CO. LLC acquired a new position in Sealed Air Corporation during the third quarter worth about $140,000. Global X Management Co. LLC grew its holdings in Sealed Air Corporation by 23.7% during the second quarter. Global X Management Co. LLC now owns 3,649 shares of the industrial products company’s stock worth $163,000 after acquiring an additional 699 shares during the period. Pacer Advisors Inc. grew its holdings in Sealed Air Corporation by 8.1% during the second quarter. Pacer Advisors Inc. now owns 4,301 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 322 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in Sealed Air Corporation during the second quarter worth about $201,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sealed Air Corporation (SEE) traded down $0.15 during trading on Thursday, hitting $44.95. The stock had a trading volume of 1,977,000 shares, compared to its average volume of 2,166,116. The firm has a market cap of $10,340.00, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 6.27 and a beta of 1.21. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.23. Sealed Air Corporation has a fifty-two week low of $41.22 and a fifty-two week high of $50.62.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Sealed Air Corporation had a return on equity of 67.60% and a net margin of 20.15%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 EPS. equities research analysts predict that Sealed Air Corporation will post 1.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.42%. Sealed Air Corporation’s dividend payout ratio (DPR) is currently 61.54%.
A number of brokerages recently weighed in on SEE. Zacks Investment Research raised Sealed Air Corporation from a “sell” rating to a “hold” rating in a research note on Monday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $48.00 price target on shares of Sealed Air Corporation in a research note on Friday, November 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 price target on shares of Sealed Air Corporation in a research note on Thursday, November 9th. Barclays PLC lifted their price target on Sealed Air Corporation from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. Finally, Bank of America Corporation set a $50.00 price target on Sealed Air Corporation and gave the stock a “buy” rating in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Sealed Air Corporation currently has a consensus rating of “Hold” and a consensus price target of $48.75.
In related news, Director Lawrence R. Codey sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $42.91, for a total value of $150,185.00. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. 1.05% of the stock is currently owned by insiders.
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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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