Oregon Public Employees Retirement Fund cut its holdings in shares of Sealed Air Corp (NYSE:SEE) by 15.0% during the third quarter, Holdings Channel reports. The fund owned 17,643 shares of the industrial products company’s stock after selling 3,102 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Sealed Air were worth $708,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cerebellum GP LLC purchased a new stake in shares of Sealed Air in the 3rd quarter valued at approximately $180,000. Ridgewood Investments LLC purchased a new stake in shares of Sealed Air in the 3rd quarter valued at approximately $202,000. Signition LP purchased a new stake in shares of Sealed Air in the 2nd quarter valued at approximately $204,000. HL Financial Services LLC purchased a new stake in shares of Sealed Air in the 2nd quarter valued at approximately $233,000. Finally, IFM Investors Pty Ltd raised its stake in shares of Sealed Air by 31.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 7,969 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 1,916 shares during the period. Hedge funds and other institutional investors own 95.60% of the company’s stock.
Shares of SEE stock opened at $33.27 on Monday. The company has a market capitalization of $5.28 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24. Sealed Air Corp has a fifty-two week low of $30.22 and a fifty-two week high of $49.94.
Sealed Air (NYSE:SEE) last announced its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Sealed Air had a negative net margin of 0.87% and a negative return on equity of 150.20%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Research analysts expect that Sealed Air Corp will post 2.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, December 6th. Sealed Air’s dividend payout ratio (DPR) is presently 35.36%.
In other news, Director Jerry R. Whitaker purchased 1,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was bought at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the acquisition, the director now directly owns 8,021 shares of the company’s stock, valued at approximately $319,316.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward L. Doheny II purchased 5,000 shares of the stock in a transaction on Monday, August 13th. The shares were purchased at an average price of $39.65 per share, with a total value of $198,250.00. Following the acquisition, the insider now directly owns 78,145 shares in the company, valued at $3,098,449.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,600 shares of company stock valued at $262,654 in the last quarter. 0.63% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on SEE. Citigroup reduced their price target on shares of Sealed Air from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group set a $45.00 price target on shares of Sealed Air and gave the company a “buy” rating in a research note on Friday. Robert W. Baird reduced their price target on shares of Sealed Air from $55.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 18th. Barclays reduced their price target on shares of Sealed Air from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, August 9th. Finally, ValuEngine cut shares of Sealed Air from a “sell” rating to a “strong sell” rating in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $45.55.
Sealed Air Profile
Sealed Air Corporation provides food safety and security, and product protection solutions worldwide. The company operates through Food Care and Product Care segments. The Food Care segment offers integrated system solutions that enhance the management of contamination risk during the food and beverage production process, extend product shelf life through packaging technologies, and improve merchandising, ease-of-use, and back-of-house preparation processes to processors, retailers, and food service operators under the Cryovac Grip & Tear, Cryovac Darfresh, Cryovac Mirabella, Simple Steps, and Optidure brands.
See Also: Exchange-Traded Funds (ETFs)
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