Laffer Investments continued to hold its stake in Sealed Air Corporation (NYSE:SEE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,320 shares of the industrial products company’s stock at the end of the second quarter. Laffer Investments’ holdings in Sealed Air Corporation were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Fiduciary Trust Co. bought a new position in Sealed Air Corporation in the second quarter valued at approximately $124,000. Global X Management Co. LLC increased its stake in Sealed Air Corporation by 30.4% in the first quarter. Global X Management Co. LLC now owns 2,950 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 687 shares during the last quarter. Pacer Advisors Inc. increased its stake in Sealed Air Corporation by 3.0% in the first quarter. Pacer Advisors Inc. now owns 3,979 shares of the industrial products company’s stock valued at $173,000 after acquiring an additional 116 shares during the last quarter. Sphera Funds Management LTD. increased its stake in Sealed Air Corporation by 28.6% in the first quarter. Sphera Funds Management LTD. now owns 4,500 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 1,000 shares during the last quarter. Finally, FNY Partners Fund LP bought a new position in Sealed Air Corporation in the first quarter valued at approximately $196,000. 92.12% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Lawrence R. Codey sold 3,500 shares of Sealed Air Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $42.91, for a total transaction of $150,185.00. Following the completion of the transaction, the director now directly owns 38,180 shares of the company’s stock, valued at approximately $1,638,303.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.05% of the company’s stock.
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A number of analysts have weighed in on the stock. Barclays PLC reaffirmed an “equal weight” rating and set a $45.00 target price on shares of Sealed Air Corporation in a research note on Tuesday. Bank of America Corporation raised shares of Sealed Air Corporation from a “neutral” rating to a “buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 target price on shares of Sealed Air Corporation in a research note on Wednesday, September 13th. BidaskClub raised shares of Sealed Air Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 target price on shares of Sealed Air Corporation in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.92.
Shares of Sealed Air Corporation (SEE) traded up 2.46% during trading on Thursday, hitting $42.90. 399,715 shares of the stock were exchanged. The stock’s 50 day moving average price is $44.13 and its 200 day moving average price is $44.40. Sealed Air Corporation has a 52 week low of $41.22 and a 52 week high of $50.62. The firm has a market capitalization of $8.15 billion, a price-to-earnings ratio of 22.17 and a beta of 1.19.
Sealed Air Corporation (NYSE:SEE) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Sealed Air Corporation had a return on equity of 84.32% and a net margin of 6.81%. Sealed Air Corporation’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. On average, equities analysts predict that Sealed Air Corporation will post $1.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.53%. Sealed Air Corporation’s dividend payout ratio is 33.16%.
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 (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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