Teachers Advisors LLC increased its position in shares of Sealed Air Corporation (NYSE:SEE) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 419,895 shares of the industrial products company’s stock after buying an additional 30,322 shares during the period. Teachers Advisors LLC owned 0.22% of Sealed Air Corporation worth $18,299,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Artisan Partners Limited Partnership bought a new position in Sealed Air Corporation during the first quarter worth approximately $69,297,000. Pioneer Investment Management Inc. raised its position in Sealed Air Corporation by 45.4% in the first quarter. Pioneer Investment Management Inc. now owns 2,475,136 shares of the industrial products company’s stock worth $107,866,000 after buying an additional 772,922 shares in the last quarter. Ameriprise Financial Inc. raised its position in Sealed Air Corporation by 88.3% in the first quarter. Ameriprise Financial Inc. now owns 1,533,186 shares of the industrial products company’s stock worth $66,239,000 after buying an additional 718,802 shares in the last quarter. FMR LLC raised its position in Sealed Air Corporation by 73.2% in the first quarter. FMR LLC now owns 1,549,870 shares of the industrial products company’s stock worth $67,543,000 after buying an additional 654,872 shares in the last quarter. Finally, Oxford Asset Management bought a new position in Sealed Air Corporation during the first quarter worth approximately $18,130,000. Institutional investors and hedge funds own 90.48% of the company’s stock.
Sealed Air Corporation (SEE) opened at 46.05 on Monday. Sealed Air Corporation has a 1-year low of $41.74 and a 1-year high of $50.62. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 26.47 and a beta of 1.17. The company has a 50-day moving average of $44.38 and a 200-day moving average of $45.68.
Sealed Air Corporation (NYSE:SEE) last issued its earnings results on Tuesday, May 9th. The industrial products company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that Sealed Air Corporation will post $1.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 30th. Sealed Air Corporation’s payout ratio is presently 36.99%.
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SEE has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) cut shares of Sealed Air Corporation from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $53.00 to $50.00 in a report on Tuesday, April 4th. Zacks Investment Research cut shares of Sealed Air Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Royal Bank Of Canada restated a “buy” rating and set a $55.00 target price on shares of Sealed Air Corporation in a report on Tuesday, March 21st. Bank of America Corporation cut shares of Sealed Air Corporation from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Tuesday, May 9th. Finally, TheStreet cut shares of Sealed Air Corporation from a “b” rating to a “c+” rating in a report on Tuesday, May 9th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sealed Air Corporation presently has an average rating of “Hold” and a consensus target price of $48.64.
In related news, insider Jerome A. Peribere purchased 6,960 shares of Sealed Air Corporation stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $42.97 per share, for a total transaction of $299,071.20. Following the completion of the acquisition, the insider now directly owns 199,000 shares of the company’s stock, valued at $8,551,030. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Emile Z. Chammas purchased 3,000 shares of Sealed Air Corporation stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $43.09 per share, with a total value of $129,270.00. Following the acquisition, the insider now directly owns 148,077 shares of the company’s stock, valued at $6,380,637.93. 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.
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