PNC Financial Services Group Inc. Lowers Stake in Sealed Air Corporation (SEE)

PNC Financial Services Group Inc. decreased its stake in Sealed Air Corporation (NYSE:SEE) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,035 shares of the industrial products company’s stock after selling 512 shares during the period. PNC Financial Services Group Inc.’s holdings in Sealed Air Corporation were worth $2,921,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacad Investment Ltd. acquired a new position in shares of Sealed Air Corporation during the fourth quarter valued at about $740,000. Allianz Asset Management AG increased its position in shares of Sealed Air Corporation by 769.6% in the fourth quarter. Allianz Asset Management AG now owns 391,772 shares of the industrial products company’s stock valued at $17,764,000 after buying an additional 346,720 shares during the last quarter. Credit Agricole S A increased its position in shares of Sealed Air Corporation by 24.8% in the fourth quarter. Credit Agricole S A now owns 78,445 shares of the industrial products company’s stock valued at $3,557,000 after buying an additional 15,566 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Sealed Air Corporation by 178.5% in the fourth quarter. Brown Advisory Inc. now owns 38,280 shares of the industrial products company’s stock valued at $1,736,000 after buying an additional 24,537 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Sealed Air Corporation by 354.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 367,115 shares of the industrial products company’s stock valued at $16,650,000 after buying an additional 286,368 shares during the last quarter. 90.53% of the stock is currently owned by institutional investors.

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

Shares of Sealed Air Corporation (NYSE:SEE) traded down 0.0202% during trading on Monday, reaching $45.0209. 364,932 shares of the company’s stock were exchanged. The firm has a market capitalization of $8.82 billion, a PE ratio of 25.8741 and a beta of 1.13. The company’s 50-day moving average price is $44.20 and its 200 day moving average price is $45.79. Sealed Air Corporation has a 52 week low of $41.74 and a 52 week high of $50.62.

Sealed Air Corporation (NYSE:SEE) last issued its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.03. Sealed Air Corporation had a net margin of 5.48% and a return on equity of 85.72%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.50 earnings per share. Sealed Air Corporation’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Sealed Air Corporation will post $1.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Wednesday, May 31st. Sealed Air Corporation’s payout ratio is 36.99%.

TRADEMARK VIOLATION WARNING: This news story was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://sportsperspectives.com/2017/06/19/pnc-financial-services-group-inc-lowers-stake-in-sealed-air-corporation-see.html.

Several research analysts have issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Sealed Air Corporation in a research report on Friday, February 24th. Jefferies Group LLC reissued a “neutral” rating and set a $45.00 price objective on shares of Sealed Air Corporation in a research report on Wednesday, March 1st. Bank of America Corporation downgraded shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Tuesday, May 9th. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, March 21st. Finally, Robert W. Baird reissued an “outperform” rating and set a $55.00 price objective on shares of Sealed Air Corporation in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Sealed Air Corporation presently has a consensus rating of “Hold” and an average target price of $49.09.

In other news, insider Emile Z. Chammas acquired 3,000 shares of Sealed Air Corporation stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $43.09 per share, with a total value of $129,270.00. Following the completion of the purchase, the insider now owns 148,077 shares of the company’s stock, valued at $6,380,637.93. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jerome A. Peribere acquired 6,960 shares of Sealed Air Corporation stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $42.97 per share, with a total value of $299,071.20. Following the completion of the purchase, the insider now directly owns 199,000 shares of the company’s stock, valued at approximately $8,551,030. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate 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, 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.

Receive News & Ratings for Sealed Air Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sealed Air Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply