State Street Corp decreased its stake in Sealed Air Corporation (NYSE:SEE) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,683,729 shares of the industrial products company’s stock after selling 89,293 shares during the period. State Street Corp owned about 4.49% of Sealed Air Corporation worth $378,437,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of SEE. Russell Investments Group Ltd. bought a new stake in shares of Sealed Air Corporation during the fourth quarter valued at approximately $2,905,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Sealed Air Corporation by 19.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,571 shares of the industrial products company’s stock valued at $163,000 after buying an additional 578 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Sealed Air Corporation during the fourth quarter valued at approximately $29,435,000. Baldwin Brothers Inc. MA raised its stake in shares of Sealed Air Corporation by 61,387.8% in the first quarter. Baldwin Brothers Inc. MA now owns 180,774 shares of the industrial products company’s stock valued at $7,878,000 after buying an additional 180,480 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Sealed Air Corporation by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 1,788,451 shares of the industrial products company’s stock valued at $77,943,000 after buying an additional 23,184 shares during the last quarter. Institutional investors own 90.53% of the company’s stock.
Sealed Air Corporation (NYSE SEE) traded down 0.49% during mid-day trading on Tuesday, reaching $45.08. The company’s stock had a trading volume of 1,221,378 shares. Sealed Air Corporation has a 1-year low of $41.74 and a 1-year high of $50.62. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 25.91 and a beta of 1.13. The firm has a 50-day moving average of $44.24 and a 200 day moving average of $45.79.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.03. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Sealed Air Corporation had a return on equity of 85.72% and a net margin of 5.48%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Equities analysts expect that Sealed Air Corporation will post $1.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 31st. Sealed Air Corporation’s dividend payout ratio is currently 36.99%.
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Several equities research analysts have commented on SEE shares. Zacks Investment Research lowered shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating and set a $45.00 target price on shares of Sealed Air Corporation in a research report on Tuesday, April 18th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of Sealed Air Corporation in a research note on Tuesday, March 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $45.00 price target (down previously from $50.00) on shares of Sealed Air Corporation in a research note on Tuesday, March 28th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sealed Air Corporation in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $49.09.
In other Sealed Air Corporation news, insider Jerome A. Peribere acquired 6,960 shares of Sealed Air Corporation stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $42.97 per share, with a total value of $299,071.20. Following the purchase, the insider now owns 199,000 shares in the company, valued at $8,551,030. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Emile Z. Chammas acquired 3,000 shares of Sealed Air Corporation stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired 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 in the company, valued at approximately $6,380,637.93. The disclosure for this purchase can be found here. 0.86% of the stock is currently 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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