Prudential Financial Inc. raised its position in shares of Sealed Air Corp. (NYSE:SEE) by 12.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,735 shares of the company’s stock after buying an additional 29,342 shares during the period. Prudential Financial Inc. owned about 0.14% of Sealed Air Corp. worth $12,538,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in Sealed Air Corp. during the first quarter worth approximately $700,000. Meeder Asset Management Inc. acquired a new stake in Sealed Air Corp. during the first quarter worth approximately $132,000. ING Groep NV acquired a new stake in Sealed Air Corp. during the first quarter worth approximately $217,000. Investec Asset Management LTD acquired a new stake in Sealed Air Corp. during the first quarter worth approximately $235,000. Finally, Bessemer Group Inc. increased its stake in Sealed Air Corp. by 368.8% in the first quarter. Bessemer Group Inc. now owns 10,332 shares of the company’s stock worth $496,000 after buying an additional 8,128 shares in the last quarter. Institutional investors own 89.21% of the company’s stock.
Sealed Air Corp. (NYSE:SEE) traded down 0.81% on Monday, hitting $45.45. The stock had a trading volume of 100,194 shares. Sealed Air Corp. has a one year low of $38.02 and a one year high of $52.83. The stock has a market cap of $8.94 billion, a P/E ratio of 25.91 and a beta of 1.22. The company’s 50-day moving average is $46.65 and its 200-day moving average is $47.42.
Sealed Air Corp. (NYSE:SEE) last issued its earnings results on Thursday, July 28th. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. Sealed Air Corp. had a return on equity of 98.51% and a net margin of 5.16%. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. Sealed Air Corp.’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Sealed Air Corp. will post $2.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders 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 yield of 1.40%. Sealed Air Corp.’s payout ratio is currently 36.57%.
A number of equities research analysts have commented on the company. BMO Capital Markets restated a “hold” rating on shares of Sealed Air Corp. in a research report on Sunday, July 17th. Jefferies Group lifted their target price on Sealed Air Corp. from $45.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Zacks Investment Research upgraded Sealed Air Corp. from a “sell” rating to a “hold” rating in a report on Friday, July 15th. Citigroup Inc. upgraded Sealed Air Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $54.00 to $56.00 in a report on Friday, July 15th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $59.00 price objective on shares of Sealed Air Corp. in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price 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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