Sealed Air Corp (SEE) Position Raised by Paloma Partners Management Co
Paloma Partners Management Co boosted its position in Sealed Air Corp (NYSE:SEE) by 1,215.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,200 shares of the industrial products company’s stock after purchasing an additional 38,067 shares during the period. Paloma Partners Management Co’s holdings in Sealed Air were worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in shares of Sealed Air during the 1st quarter valued at approximately $138,000. Signition LP acquired a new stake in shares of Sealed Air during the 2nd quarter valued at approximately $204,000. Intact Investment Management Inc. acquired a new stake in shares of Sealed Air during the 1st quarter valued at approximately $218,000. HL Financial Services LLC acquired a new stake in shares of Sealed Air during the 2nd quarter valued at approximately $233,000. Finally, ING Groep NV acquired a new stake in shares of Sealed Air during the 1st quarter valued at approximately $249,000. Hedge funds and other institutional investors own 96.21% of the company’s stock.
A number of research firms have recently issued reports on SEE. ValuEngine upgraded shares of Sealed Air from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research upgraded shares of Sealed Air from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Friday, June 15th. Barclays reduced their price target on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, August 9th. UBS Group set a $52.00 price target on shares of Sealed Air and gave the company a “buy” rating in a research report on Wednesday, May 23rd. Finally, KeyCorp reiterated a “hold” rating on shares of Sealed Air in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Sealed Air presently has an average rating of “Hold” and a consensus target price of $49.80.
Sealed Air (NYSE:SEE) last issued its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. Sealed Air had a net margin of 14.37% and a return on equity of 859.42%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company posted $0.34 EPS. The company’s revenue was up 7.9% on a year-over-year basis. sell-side analysts expect that Sealed Air Corp will post 2.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.54%. Sealed Air’s dividend payout ratio (DPR) is 35.36%.
In other Sealed Air news, insider Edward L. Doheny II acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $39.65 per share, with a total value of $198,250.00. Following the purchase, the insider now directly owns 78,145 shares in the company, valued at approximately $3,098,449.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William G. Stiehl sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $44.01, for a total transaction of $132,030.00. Following the transaction, the chief financial officer now directly owns 42,898 shares of the company’s stock, valued at $1,887,940.98. The disclosure for this sale can be found here. Over the last three months, insiders have bought 6,600 shares of company stock valued at $262,654. Corporate insiders own 0.63% of the company’s stock.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
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