Kornitzer Capital Management Inc. KS raised its stake in shares of Sealed Air Corp. (NYSE:SEE) by 66.0% during the second quarter, Holdings Channel reports. The firm owned 275,141 shares of the company’s stock after buying an additional 109,400 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Sealed Air Corp. were worth $12,648,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Bank of Montreal Can bought a new position in Sealed Air Corp. during the second quarter worth approximately $68,189,000. Anchor Bolt Capital LP boosted its position in Sealed Air Corp. by 109.5% in the first quarter. Anchor Bolt Capital LP now owns 1,466,166 shares of the company’s stock worth $70,391,000 after buying an additional 766,446 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sealed Air Corp. by 29.6% in the first quarter. Renaissance Technologies LLC now owns 1,333,100 shares of the company’s stock worth $64,002,000 after buying an additional 304,400 shares in the last quarter. Hancock Holding Co. boosted its position in Sealed Air Corp. by 430.6% in the first quarter. Hancock Holding Co. now owns 313,629 shares of the company’s stock worth $15,058,000 after buying an additional 254,521 shares in the last quarter. Finally, Natixis bought a new position in Sealed Air Corp. during the first quarter worth approximately $8,153,000. 89.21% of the stock is currently owned by institutional investors.
Sealed Air Corp. (NYSE:SEE) traded up 0.70% during midday trading on Friday, reaching $44.62. 582,125 shares of the company were exchanged. Sealed Air Corp. has a 52 week low of $38.02 and a 52 week high of $52.83. The firm has a market capitalization of $8.78 billion, a PE ratio of 25.44 and a beta of 1.22. The company has a 50-day moving average of $46.03 and a 200 day moving average of $47.24.
Sealed Air Corp. (NYSE:SEE) last released its earnings results on Thursday, July 28th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. Sealed Air Corp. had a net margin of 5.16% and a return on equity of 98.51%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities analysts predict that Sealed Air Corp. will post $2.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 30th. Sealed Air Corp.’s payout ratio is 36.57%.
SEE has been the subject of a number of research reports. Zacks Investment Research cut shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. BMO Capital Markets reissued a “hold” rating and issued a $50.00 price target on shares of Sealed Air Corp. in a research note on Friday, July 29th. Jefferies Group cut their price target on shares of Sealed Air Corp. from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, July 29th. JPMorgan Chase & Co. initiated coverage on shares of Sealed Air Corp. in a research note on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $59.00 price target on shares of Sealed Air Corp. in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Sealed Air Corp. currently has a consensus rating of “Buy” and a consensus price target of $53.42.
Sealed Air Corp. 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 processors, retailers and food service operators a range of integrated system solutions.
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