Vanguard Group Inc. reduced its position in shares of Sealed Air Corp. (NYSE:SEE) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,443,408 shares of the company’s stock after selling 465,932 shares during the period. Vanguard Group Inc. owned approximately 9.88% of Sealed Air Corp. worth $893,814,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in SEE. Anchor Bolt Capital LP increased its stake in shares of 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 increased its stake in shares of 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. IBM Retirement Fund increased its stake in shares of Sealed Air Corp. by 0.3% in the second quarter. IBM Retirement Fund now owns 23,279 shares of the company’s stock worth $1,117,000 after buying an additional 76 shares in the last quarter. National Pension Service increased its stake in shares of Sealed Air Corp. by 4.5% in the first quarter. National Pension Service now owns 144,614 shares of the company’s stock worth $6,943,000 after buying an additional 6,266 shares in the last quarter. Finally, DNB Asset Management AS purchased a new stake in shares of Sealed Air Corp. during the second quarter worth approximately $486,000. 89.21% of the stock is currently owned by institutional investors.
Sealed Air Corp. (NYSE:SEE) traded up 0.140% during mid-day trading on Monday, hitting $46.645. 143,886 shares of the stock traded hands. The stock has a 50-day moving average of $46.74 and a 200 day moving average of $47.42. Sealed Air Corp. has a 1-year low of $38.02 and a 1-year high of $52.83. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 26.594 and a beta of 1.23.
Sealed Air Corp. (NYSE:SEE) last posted 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 business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Sealed Air Corp. will post $2.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.37%. Sealed Air Corp.’s dividend payout ratio (DPR) is presently 36.57%.
A number of equities research analysts have commented on SEE shares. JPMorgan Chase & Co. began coverage on shares of Sealed Air Corp. in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $53.00 price objective on the stock. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Sealed Air Corp. in a research report on Thursday, September 8th. Zacks Investment Research downgraded shares of Sealed Air Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $59.00 target price on shares of Sealed Air Corp. in a research report on Wednesday, June 1st. Finally, SunTrust Banks Inc. began coverage on shares of Sealed Air Corp. in a research report on Tuesday, July 12th. They issued a “buy” rating and a $54.00 target price on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock 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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